The Financial Times asked Graham Lloyd the question: "Last month, Jamie Dimon, chief executive of JPMorgan, lambasted Mark Carney, governor of the Bank of Canada, arguing that he was wrong to support new banking regulations that he claimed were ill thought out. European bankers, by contrast, have tended to make their concerns known more quietly. Which approach is best when trying to get regulators to change their view?
The consultant: PA Consulting Group
The real issue is whether there is an effective forum for debate and a transparent process for decision-making. All parties should be engaged, regardless of partisanship – that can be filtered out later. Scrutinising any market framework to ensure it is economic and practical feels like a reasonable step and those setting the rules are more likely to play by them.
Applying these principles visibly from the outset ensures the right debate.
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