Regulating the City 'costs £1bn'

UK - The cost of regulating the City is at least £1bn and the benefits are completely unclear some months after the Financial Services Authority acquired its full powers, according to research.

The research was published in the latest edition of The Financial Regulator journal from Central Banking Publications, home of This article was published in Monday's Financial Times.

"We don't know how much we're paying for regulation and we don't know what the benefits are. That make