Extract from committee stage (Lords) of the Financial Services Bill - Feb 22
Tuesday, 23 February 2021 08:28
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Lord Hodgson of Astley Abbotts (Con):...The second general point is
that, too often, the attitude among regulators is, “What I have, I
hold.” The House will have heard me before on several occasions
speak about the poor cost-benefit ratio of the present suspicious
activity report regimes, or SARs. Every year the number of SARs
rises; in 2019, it reached 573,085, about 2,300 per working day.
What use is made of these? The cost of all this to the regulated
entities and so to consumers and...Request free trial
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