The UK goes to the polls today in what promises to be the tightest election for 18 years. Acres of newsprint and millions of cubic feet of hot air have been expended on all the possible outcomes: from an outright Conservative majority in the House of Commons, to a Labour-Liberal Democrat coalition.
Each different permutation of power means a different path for UK policy on regulating banks, financial services and markets. Will the Liberal Democrats insist on their regulatory policy as the price for their participation in a coalition with the Conservatives or Labour? Could a minority Conservative government force through its plan to blow apart the tripartite regulatory regime? (more…)