NPR

How did slackened legislation and control work out for the markets in 2007/08?

Ymx wrote: ↑Mon Sep 13, 2021 6:55 am PRIIPs

https://www.fca.org.uk/news/press-relea ... regulation

‘Exiting the EU has provided us an opportunity to quickly amend technical standards surrounding key information documents as we know that they are not fully achieving the intended aims. We want to ensure that consumers have what they need through transparent information and furthermore through the reduction of potentially misleading information being displayed.'

Mifid

https://www.google.com/amp/s/amp.ft.com ... 415769a57f

The FCA was one of the main architects of Europe’s Mifid rule book, but it has pledged that a post-Brexit UK will not be a “rule taker” from Brussels — a stance likely to lead to new divergences in financial regulations between Britain and Europe.

“Our proposals aim to reduce burdens on investment firms while having regard to growth and the competitiveness of UK financial services,” the FCA said on Wednesday.

Because divergence in standards is somehow a good thing?

Tichtheid wrote: ↑Mon Sep 13, 2021 8:50 am How did slackened legislation and control work out for the markets in 2007/08?

it's not quite that straightforward, there was still lots of regulation back then, and for anyone who thought the EU was bad wait until you deal with the US. and then post the credit crunch they came out with a lot more regulation, much of which misses the point, especially in the US but certainly also in the EU. but I suppose that's often the way, and you're always going to want reform in compliance which ideally simplifies, better targets and lessens the burden,

the thing that seems critical to me is one's ability to shape that regulation, and we're now in a much worse position because whilst we can set and adhere to our own standards much of the time in the UK, and being able to consider the UK more will have advantages here, on a global position we're looking at 3 groups defining standards, the US, the EU and when they get around to it China, and our best strategy was being inside the EU directing some practicality into their thinking, sadly we will now be more takers than definers, there's just no way the UK carries the same influence as the big 3, not even close, not even with London being such a financial force

TheNatalShark wrote: ↑Sun Sep 12, 2021 12:58 pm

Ymx wrote: ↑Sun Sep 12, 2021 12:35 pm No, it was a torturous exercise dealing with the EU bodies. They are an embarrassment.

It is infinitely better to have own regulations which are recognised under equivalence.

The UK had absolutely no influence and input to the evolution of financial regulations and regulatory bodies within the EU.

None.

The FCA is the best and most reasonable regulatory body in the world to deal with, and is ready to throw EU regs (which again it had absolutely no say on) in a bonfire. Any minute now.



The UK's financial regulations, attitude toward regulations and the hassle there-in will be more or less lock step with the EU for the foreseeable decade purely because the UK was the most influential driver of financial regulation and the shaping of bodies in the EU, bar none. And it was very, very happy with the status quo.

In case I'm being whooshed, I'm assuming the bit in red is sarcasm?

Torquemada 1420 wrote: ↑Mon Sep 13, 2021 1:19 pm

TheNatalShark wrote: ↑Sun Sep 12, 2021 12:58 pm

Ymx wrote: ↑Sun Sep 12, 2021 12:35 pm No, it was a torturous exercise dealing with the EU bodies. They are an embarrassment.

It is infinitely better to have own regulations which are recognised under equivalence.

The UK had absolutely no influence and input to the evolution of financial regulations and regulatory bodies within the EU.

None.

The FCA is the best and most reasonable regulatory body in the world to deal with, and is ready to throw EU regs (which again it had absolutely no say on) in a bonfire. Any minute now.



The UK's financial regulations, attitude toward regulations and the hassle there-in will be more or less lock step with the EU for the foreseeable decade purely because the UK was the most influential driver of financial regulation and the shaping of bodies in the EU, bar none. And it was very, very happy with the status quo.

In case I'm being whooshed, I'm assuming the bit in red is sarcasm?

Those first three paragraphs are obvious sarcasm.

The FCA has 4,000 employees and an annual budget of £600m. On what planet are they going to reduce regulations and put themselves out of work?

Do these cretins actually get briefed at all?
[media] [/media]

Work and Pensions Secretary Therese Coffey has backed the cut to universal credit (UC), saying removing the £20 uplift would only mean "two hours' extra work every week" for claimants.

Speaking to BBC Breakfast, she said the government would try to help people "perhaps secure those extra hours".

But a charity warned claimants would need to work up to nine extra hours a week to make-up the shortfall.

SaintK wrote: ↑Mon Sep 13, 2021 3:11 pm Do these cretins actually get briefed at all?
[media] [/media]

Work and Pensions Secretary Therese Coffey has backed the cut to universal credit (UC), saying removing the £20 uplift would only mean "two hours' extra work every week" for claimants.

Speaking to BBC Breakfast, she said the government would try to help people "perhaps secure those extra hours".

But a charity warned claimants would need to work up to nine extra hours a week to make-up the shortfall.

How does the Minister for work and pensions not know how benefits work?! Genuinely astounding levels of incompetence.

I like neeps wrote: ↑Mon Sep 13, 2021 4:30 pm

SaintK wrote: ↑Mon Sep 13, 2021 3:11 pm Do these cretins actually get briefed at all?
[media] [/media]

Work and Pensions Secretary Therese Coffey has backed the cut to universal credit (UC), saying removing the £20 uplift would only mean "two hours' extra work every week" for claimants.

Speaking to BBC Breakfast, she said the government would try to help people "perhaps secure those extra hours".

But a charity warned claimants would need to work up to nine extra hours a week to make-up the shortfall.

How does the Minister for work and pensions not know how benefits work?! Genuinely astounding levels of incompetence.

She really is an arrogant, uninformed twat! Their arrogance knows no bounds, rather than getting a proper brief she spent all day doing the media rounds uttering pish, she even suggested that Patel may just have 'bumped into' some multi billionaire at Heathrow by accident rather than having a dodgy meeting and breaking the rules. I honestly have no idea why folk vote for these charlatans.

robmatic wrote: ↑Mon Sep 13, 2021 2:25 pm
The FCA has 4,000 employees and an annual budget of £600m. On what planet are they going to reduce regulations and put themselves out of work?

Quite. They have a vested interest in preventing a stable market because they'd all be back to stacking shelves in Tescos.

SaintK wrote: ↑Mon Sep 13, 2021 3:11 pm Do these cretins actually get briefed at all?
[media] [/media]

Work and Pensions Secretary Therese Coffey has backed the cut to universal credit (UC), saying removing the £20 uplift would only mean "two hours' extra work every week" for claimants.

Speaking to BBC Breakfast, she said the government would try to help people "perhaps secure those extra hours".

But a charity warned claimants would need to work up to nine extra hours a week to make-up the shortfall.

I assumed she was a social worker when I turned on the news this morning.

Lots of scummy things around this morning
This is a good start. Evidently you don't catch Covid from friends and colleagues

Good morning. Sajid Javid, the health secretary, has been doing a morning interview round this morning, and he has been asked why Conservative ministers and MPs are so reluctant to wear masks. It is because when they are at Westminster they are not with strangers, he said. This is what he told Sky News when asked why no one was wearing a mask at yesterday’s crowded cabinet meeting.

That is perfectly consistent with what the prime minister said yesterday and what I said yesterday, because what we said was that people should consider wearing masks in crowded places when they are with strangers, when they are with people that they are normally spending time with.

[media] [/media]

SaintK wrote: ↑Wed Sep 15, 2021 9:54 am Lots of scummy things around this morning
This is a good start. Evidently you don't catch Covid from friends and colleagues

Good morning. Sajid Javid, the health secretary, has been doing a morning interview round this morning, and he has been asked why Conservative ministers and MPs are so reluctant to wear masks. It is because when they are at Westminster they are not with strangers, he said. This is what he told Sky News when asked why no one was wearing a mask at yesterday’s crowded cabinet meeting.

That is perfectly consistent with what the prime minister said yesterday and what I said yesterday, because what we said was that people should consider wearing masks in crowded places when they are with strangers, when they are with people that they are normally spending time with.

[media] [/media]

Do we know what the cabinet testing regime is? Lateral flow 2 times a week is good enough for schools, etc so are they adopting a similar approach? Yes, getting on a train is different, so is a big meeting with strangers but if you have controls such as regular testing, everyone fully vaccinated and you have trust in the people in the room is it not an acceptable way forward?

Just trying to separate out the facts from the obvious spin that is applied by all sides.

SaintK wrote: ↑Wed Sep 15, 2021 9:54 am Lots of scummy things around this morning
This is a good start. Evidently you don't catch Covid from friends and colleagues

Good morning. Sajid Javid, the health secretary, has been doing a morning interview round this morning, and he has been asked why Conservative ministers and MPs are so reluctant to wear masks. It is because when they are at Westminster they are not with strangers, he said. This is what he told Sky News when asked why no one was wearing a mask at yesterday’s crowded cabinet meeting.

That is perfectly consistent with what the prime minister said yesterday and what I said yesterday, because what we said was that people should consider wearing masks in crowded places when they are with strangers, when they are with people that they are normally spending time with.

[media] [/media]

This is just feckin unbelievable from the UK Health Secretary - he should be sacked on the spot for this! It is a pathetic attempt to cover up the UK Gov for not following their own rules/advice and a complete misinterpretation of all the scientific evidence about covid. Worse still is that it erodes public messaging in taking sensible mitigations for covid and erodes any confidence in the ability or messaging of this Gov. Absolutely appalling but what you would expect from a Merchant Banker with feck all experience in public care or NHS. A feckin twat, a dangerous feckin twat!

dpedin wrote: ↑Wed Sep 15, 2021 10:55 am Absolutely appalling but what you would expect from a Merchant Banker with feck all experience in public care or NHS. A feckin twat, a dangerous feckin twat!

This simply isn't fair, Javid has specific experience working with private finance types who'd like to see the NHS privatised because they can make a shit load of cash from it. No experience indeed!

shaggy wrote: ↑Wed Sep 15, 2021 10:52 am Do we know what the cabinet testing regime is? Lateral flow 2 times a week is good enough for schools, etc so are they adopting a similar approach? Yes, getting on a train is different, so is a big meeting with strangers but if you have controls such as regular testing, everyone fully vaccinated and you have trust in the people in the room is it not an acceptable way forward?

Just trying to separate out the facts from the obvious spin that is applied by all sides.

Not that has been confirmed and I'd imagine Javid would have used that if they had been following a testing regime
There was (and maybe still is?) a testing ssite in the Palace of Westminster but no regular lateral flow testing!!!!

So the blonde bumblecunt is going to rearrange his deck chairs today!
Raab, Patel and Williamson for demotion though he won't have the bottle to kick them out of Cabinet.
Jenrick ought to be sweating a bit as well
[media] [/media]

Rhubarb & Custard wrote: ↑Wed Sep 15, 2021 11:13 am

dpedin wrote: ↑Wed Sep 15, 2021 10:55 am Absolutely appalling but what you would expect from a Merchant Banker with feck all experience in public care or NHS. A feckin twat, a dangerous feckin twat!

This simply isn't fair, Javid has specific experience working with private finance types who'd like to see the NHS privatised because they can make a shit load of cash from it. No experience indeed!

Good point!

SaintK wrote: ↑Wed Sep 15, 2021 11:20 am

shaggy wrote: ↑Wed Sep 15, 2021 10:52 am Do we know what the cabinet testing regime is? Lateral flow 2 times a week is good enough for schools, etc so are they adopting a similar approach? Yes, getting on a train is different, so is a big meeting with strangers but if you have controls such as regular testing, everyone fully vaccinated and you have trust in the people in the room is it not an acceptable way forward?

Just trying to separate out the facts from the obvious spin that is applied by all sides.

Not that has been confirmed and I'd imagine Javid would have used that if they had been following a testing regime
There was (and maybe still is?) a testing ssite in the Palace of Westminster but no regular lateral flow testing!!!!

Maybe the windows were open?

SaintK wrote: ↑Wed Sep 15, 2021 11:38 am So the blonde bumblecunt is going to rearrange his deck chairs today!
Raab, Patel and Williamson for demotion though he won't have the bottle to kick them out of Cabinet.
Jenrick ought to be sweating a bit as well
[media] [/media]

Jenrick strikes me as quite a sweaty fellow in normal circumstances.

Being replaced by Liz Truss would be a bit of a bosh to the ego....

SaintK wrote: ↑Wed Sep 15, 2021 11:38 am
Jenrick ought to be sweating a bit as well

Jenrick going into Downing Street which apparently means a promotion?

robmatic wrote: ↑Wed Sep 15, 2021 1:04 pm

SaintK wrote: ↑Wed Sep 15, 2021 11:38 am
Jenrick ought to be sweating a bit as well

Jenrick going into Downing Street which apparently means a promotion?

Not necessarily. If you’re getting the bullet you’ll get told around the same time as whoever is replacing you so you don’t find out by a leak.

So how is Carrie's first re-shuffle going ?

fishfoodie wrote: ↑Wed Sep 15, 2021 1:24 pm So how is Carrie's first re-shuffle going ?

Williamson gone from Education
Buckland sacked (To be replaced by Raab who will be demoted?)

Biffer wrote: ↑Wed Sep 15, 2021 1:06 pm

robmatic wrote: ↑Wed Sep 15, 2021 1:04 pm

SaintK wrote: ↑Wed Sep 15, 2021 11:38 am
Jenrick ought to be sweating a bit as well

Jenrick going into Downing Street which apparently means a promotion?

Not necessarily. If you’re getting the bullet you’ll get told around the same time as whoever is replacing you so you don’t find out by a leak.

Evidently the Blonde Slug was back in Downing St some time ago having sneaked in via the back door

robmatic wrote: ↑Wed Sep 15, 2021 1:04 pm

SaintK wrote: ↑Wed Sep 15, 2021 11:38 am
Jenrick ought to be sweating a bit as well

Jenrick going into Downing Street which apparently means a promotion?

Jenrick sacked!!!

3
Why was Robert Jenrick forced out? His sacking was probably more in the Gavin Williamson mode than the Robert Buckland mode. (See 2.26pm.) Although loyal to Boris Johnson, and said to be well regarded by his wife Carrie, Jenrick has been associated with a series of gaffes or scandals, and was seen as lucky to keep his job after intervening in a planning decision to help the billionaire Tory donor Richard Desmond. Jenrick’s move was subsequently ruled unlawful.

Didn't do him much good

SaintK wrote: ↑Wed Sep 15, 2021 1:27 pm

fishfoodie wrote: ↑Wed Sep 15, 2021 1:24 pm So how is Carrie's first re-shuffle going ?

Williamson gone from Education
Buckland sacked (To be replaced by Raab who will be demoted?)

What was Bucklands great sin ?

Was he insufficiently enthusiastic in gutting the courts, & removing any shred of legal accountability for the executive ?

fishfoodie wrote: ↑Wed Sep 15, 2021 1:45 pm

SaintK wrote: ↑Wed Sep 15, 2021 1:27 pm

fishfoodie wrote: ↑Wed Sep 15, 2021 1:24 pm So how is Carrie's first re-shuffle going ?

Williamson gone from Education
Buckland sacked (To be replaced by Raab who will be demoted?)

What was Bucklands great sin ?

Was he insufficiently enthusiastic in gutting the courts, & removing any shred of legal accountability for the executive ?

Could well be the reason............and he was a remainer

But Buckland’s problem may have been that he was dispensable. He voted remain, and unlike other cabinet remainers, has never pretended to go through an ideological conversion to the Vote Leave cause. Although liked by colleagues, he does not have supporters likely to cause trouble if he leaves the government. And, unlike some in government, he did not seem keen on waging war on the judiciary. The Conservative manifesto proposed limiting the scope of judicial review, as part of an attack on what Tories describe as “judicial activism”, but Buckland, a QC himself, only seemed to have limited enthusiasm for this. He appointed an independent commission to consider the issue, but it ended up proposing just limited reforms.

Seems like Raab is throwing his toys out of the pram, doesn’t want to be moved to justice

Tichtheid wrote: ↑Mon Sep 13, 2021 8:50 am How did slackened legislation and control work out for the markets in 2007/08?

The clunking fist of regulation, one of the three worst Prime Ministers of the last few years said, didn't he?

Biffer wrote: ↑Wed Sep 15, 2021 2:13 pm Seems like Raab is throwing his toys out of the pram, doesn’t want to be moved to justice

Bet that vein on the side of his head ios throbbing somewhat!

SaintK wrote: ↑Wed Sep 15, 2021 2:24 pm

Biffer wrote: ↑Wed Sep 15, 2021 2:13 pm Seems like Raab is throwing his toys out of the pram, doesn’t want to be moved to justice

Bet that vein on the side of his head ios throbbing somewhat!

Seem Johnson has given him Deputy PM as well as justice to get him on board.

Biffer wrote: ↑Wed Sep 15, 2021 2:27 pm

SaintK wrote: ↑Wed Sep 15, 2021 2:24 pm

Biffer wrote: ↑Wed Sep 15, 2021 2:13 pm Seems like Raab is throwing his toys out of the pram, doesn’t want to be moved to justice

Bet that vein on the side of his head ios throbbing somewhat!

Seem Johnson has given him Deputy PM as well as justice to get him on board.

How does Johnson have so many children when he has not fucking balls?

Biffer wrote: ↑Wed Sep 15, 2021 2:27 pm

SaintK wrote: ↑Wed Sep 15, 2021 2:24 pm

Biffer wrote: ↑Wed Sep 15, 2021 2:13 pm Seems like Raab is throwing his toys out of the pram, doesn’t want to be moved to justice

Bet that vein on the side of his head ios throbbing somewhat!

Seem Johnson has given him Deputy PM as well as justice to get him on board.

He's running out things to give away if he wants to move Patel though it sounds like party co chair Milling has been axed as well

Biffer wrote: ↑Wed Sep 15, 2021 2:13 pm Seems like Raab is throwing his toys out of the pram, doesn’t want to be moved to justice

Where did you get that from?

Slick wrote: ↑Wed Sep 15, 2021 2:40 pm

Biffer wrote: ↑Wed Sep 15, 2021 2:13 pm Seems like Raab is throwing his toys out of the pram, doesn’t want to be moved to justice

Where did you get that from?

Whitehall sources were briefing heavily it seems

Biffer wrote: ↑Wed Sep 15, 2021 2:27 pm

SaintK wrote: ↑Wed Sep 15, 2021 2:24 pm

Biffer wrote: ↑Wed Sep 15, 2021 2:13 pm Seems like Raab is throwing his toys out of the pram, doesn’t want to be moved to justice

Bet that vein on the side of his head ios throbbing somewhat!

Seem Johnson has given him Deputy PM as well as justice to get him on board.

Keep your enemies closer etc

Priti useless staying at the home office

sturginho wrote: ↑Wed Sep 15, 2021 2:53 pm Priti useless staying at the home office

Liz promoted to foreign secretary!