Who has the power: Banks or regulators?
Banks in the UK can be seen lobbying to pressure regulators to pass or scrap a certain piece of regulation. Researchers say they also use their close relationship with regulators to channel their views; especially major banks who use their monopoly position at the regulatory table – on both international and domestic levels.
In this Planet Mundus Short, reporter Nehal El-Sherif tells the listener another story. She looks at how the new, challenger banks see the regulations and how they perceive their relationship with the regulators in an industry still dominated by few major, influential banks. She also looks at the relationship between banks and regulators in general and whether it has changed since the financial crisis – through the eyes of bankers, academics, as well as financial and non-financial journalists.
This Planet Mundus Short was produced in May 2016 – before Brexit, or the EU referendum in Britain – as part of Nehal’s MA dissertation at City University London.
In this episode, you will hear from Michael Noonan, Enterprise Risk Manager at Tandem Bank; Ranjit Lall, a researcher at Harvard; Dr Stefano Pagliari, a lecturer of International Politics Department at City University London; Diego Bironzo, Account Director, Finance Sector Head at PRIME Research UK; and Joris Luyendijk, author of the Guardian’s Banking Blog and the new book Swimming with Sharks – among others.
Music – CC licence: