Post-meltdown regulation drive fizzling

It’s been five years since Lehman collapsed, and the drive to build up global regulatory defenses to protect the financial system from another major shock is fizzling, explains The Washington Post.

“In their effort to overhaul the global system, regulators have been confronted by a number of head winds. The world’s economy has been unexpectedly slow to recover, making governments leery of doing anything that might make banks cautious to loan and invest. The financial industry has pushed back hard, warning that aggressive regulation might undermine growth. And regulators are simply limited in their understanding of how modern finance can be made safe while still supporting economic activity,” the report says.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.