Regulation

Ten years after Lehman, we need to balance the financial rulebook

Much post-crisis regulation is sensible but bank capital requirements could be simplified and a delicate balance is needed on personal accountability

Saturday 15 September 2018 at 21:01

Ten years after Lehman, we need to balance the financial rulebook
Photo: George Peters / Digital Vision / Getty Images

When I got the call on a sunny Saturday in September 2008 about Lehman Brothers Europe potentially going into administration, little did I envisage just how serious the events of the next few days and weeks were to be.

To say that the financial regulatory landscape has changed over the past ten years would be a considerable understatement – almost every aspect of the prudential regulation of banks and investment banks, and the market infrastructure that underpins much of the markets in which they trade, has changed.