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Will tough new UK financial regulations backfire?

As the UK authorities continue discussions regarding the reorganisation of the regulatory environment within the financial sector there is a feeling that any substantial increase in regulations could have a serious knock-on effect to the UK banking sector. The impression given by many experts is that unless UK foreign counterparts also adopt similar tough regulations we could see a significant switch in the balance of power within the European and worldwide financial scene.

The UK, and in particular London, has been a major financial centre for many years although there is a suspicion that a number of major players in the London financial markets could move overseas if regulations are less restrictive. This may well explain the ongoing determination of the UK government to pull in their European counterparts to adopt similar financial and regulatory changes as well America and other leading countries around the world.

The government has obviously realised that a significant move towards a tighter regulatory environment in the UK alone would weaken the UK financial sector significantly. This could also severely impact upon the timing and strength of any recovery in the UK economy at a time when so many of the UK population are struggling. So can the UK really afford to go it alone by increasing the regulatory burden?

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