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Holding bankers to accountA decade of market manipulation, regulatory failures and regulatory reforms$
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Oonagh McDonald CBE

Print publication date: 2019

Print ISBN-13: 9781526119438

Published to Manchester Scholarship Online: September 2019

DOI: 10.7228/manchester/9781526119438.001.0001

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PRINTED FROM MANCHESTER SCHOLARSHIP ONLINE (www.manchester.universitypressscholarship.com). (c) Copyright Manchester University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MSO for personal use.date: 21 June 2021

A decade of deregulation?

A decade of deregulation?

Chapter:
(p.1) Chapter 1 A decade of deregulation?
Source:
Holding bankers to account
Author(s):

Oonagh McDonald

Publisher:
Manchester University Press
DOI:10.7228/manchester/9781526119438.003.0001

This chapter traces the history of financial regulation in the UK. It challenges the widely held belief that the period from the 1980s witnessed a systematic process of deregulation. In fact, from the 1970s there was a period of increasing regulation up until the mid-2000s, when the government began to encourage a ‘light touch’ approach. The combination of all these factors meant that banks were ill-prepared to meet the financial crisis. In its aftermath, as the banks embarked on the slow path to recovery, making profits was essential. The traders seized any opportunity they could, and it may well be the case that banks were simply relieved that some areas of their business were profitable.

Keywords:   UK financial regulation, Deregulation, 1980s, Light touch, Financial Crisis

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