FSA Urges Radical Regs For Shadow Banks
Lord Adair Turner, chairman of the U.K.’s Financial Services Authority, has called for radical regulations for the shadow banking industry, saying, “Any system this complex will defy complete understanding, and any belief that we can precisely calibrate our response to it will therefore be a delusion.”
Lord Adair Turner, chairman of the U.K.’s Financial Services Authority, has called for radical regulations for the shadow banking industry, saying, “Any system this complex will defy complete understanding, and any belief that we can precisely calibrate our response to it will therefore be a delusion.”
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