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The British Bankers Association warns FSA

The British Bankers Association (BBA) has this evening delivered a warning to the Financial Services Authority (FSA) that proposed regulation changes for the future could well stifle competition and liquidity in the UK banking sector. While there is no doubt that the regulators and the UK government are looking to take more of a hands-on role with regards to the UK banking sector there are concerns that they may move too far in the "safe" direction.

The very fact that the UK banking industry has mushroomed over the last 20 years, now taking in all areas of the world, is testament to the intuition and skill of past UK banking experts. While there is no doubt that the last two years have been very difficult for the sector, there is a fear that all of the goodwill and intelligence built up over the last 50 years or so could well be trampled upon and forgotten.

It seems almost inevitable that we will see a less active period in the history of the UK banking sector over the next few years but historically London has been central to the financial world and needs to continue to grow to retain his position. Will the UK government think again or are we now in politically correct and general election mode?

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