What is the point of financial regulation?


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Comment by Joy Dunbar, Editor of Absolute UCITS

I have read a lot about regulation recently. I have waded through the financial industry’s responses to European Securities and Markets Authority’s consultation into UCITS and I have spoken to industry experts about how changing regulations will affect their business.

All of which makes me think: what is the point of all this regulation? The answer is supposedly very simple – to protect investors and taxpayers. But the consequences of increased regulation are of course more complex.

Since the credit