Barclays chief hits out at watchdogs

UK - The head of banking giant Barclays has warned City watchdogs against imposing overzealous regulation, or risk seeing financial services business lost abroad.

Sir Peter Middleton has raised as a "key issue" for banks the "higher and growing" costs of complying with regulations.

It was "crucial for the future of banking" that regulators struck a balance between protecting consumers and encouraging sector innovation, Sir Peter, Barclay's chairman, said.

"We must avoid a regime that simply i

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