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Banking should "be more boring" - UK regulator Wheatley

Wednesday, September 05, 2012 - 00:50

Sept. 5 - The UK's new chief financial regulator Martin Wheatley argues that the culture of the financial sector must change from the top down to clamp down on mis-selling.

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Banks. Got into position -- they -- massively leveraged promising 78%. Recently equity you can't do that by providing a cold and in the business steal clients of that so risky bets we've ended up with the times -- haven't -- huge amount I'd like to get back to banking being available for. That's what like this again. I'll still. Under playing this game of the problems. I think him and in fan is what I'm saying is it dislocation between the conversations I'm having -- what we find on the ground and I'm part of the job is to connect those two things up. So it sort of bosses yet the bosses get -- they understand what we're trying to achieve they understand the banking industry needs to change all of them get past. But no large organizations. When we get that complete back what's happening on the ground that they you know there's a big cultural damage that they have to a becoming banks.

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Banking should "be more boring" - UK regulator Wheatley

Wednesday, September 05, 2012 - 00:50