People power is not enough: it’s the regulator’s job to punish businesses

People power is not enough: it’s the regulator’s job to punish businesses
 

An insider from the world of business offered his solution last week to the question of how to restore trust in financial markets and big corporations: people power. Justin King, the former chief executive of Sainsbury’s, said: “There are many businesses that detach themselves from normal rules for periods of time but eventually the consumer catches up and they are forced to change.”
Really? Could public revulsion have been more effective than government or regulatory action in preventing the latest scandals to cloud Britain’s corporate reputation? Last week Barclays and Royal Bank of... read more

 
2 November 2014 in Business, Views: 47
Source: Guardian
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