Thread by @premnsikka

#socialistsunday Please this story about our report to the Shadow Chancellor for regulatory reform. Plan is to eliminate duplication and buck-passing regulators. there will be no statutory regulatory powers of accountancy and other trade associations.

theguardian.com/business/2019/…

The full report submitted to Labour on regulatory reform is available here. It recommends that every regulator should have a Supervisory Board consisting of citizens to oversee its operations and provide a counterweight to in-built capture and corruption.
visar.csustan.edu/aaba/LabourPol…

#socialistsunday What a regulatory maze. The UK has at least 41 regulators for the financial sector and majority are outside the Freedom of Information net. They are not accountable to people as shown by HBOS. RBS/GRG, banking crash and other scandals
visar.csustan.edu/aaba/LabourPol…

#socialistsunday The corrupt insolvency industry has at least five regulators overseen by the Insolvency Service. Insolvency practitioners extract vast fees and take years to finalize anything. Their role in HBOS, RBS/GRG and other abuses is yet to be investigated.

#socialistsunday With multiplicity of captured regulators, the UK cannot fight economic and financial crime that is ingrained in the financial system, corporate governance, accounting, auditing, insolvency and other sectors. This report outlines proposals
visar.csustan.edu/aaba/LabourPol…

#socialistsunday Our report to Labour documents the corruption ingrained in the current regulatory system. It provides can studies to show how regulators and ministers have protected wrongdoers. This damage faith in institutions of democracy.
visar.csustan.edu/aaba/LabourPol…

#socialistsunday See pages 62-67 for small evidence (much more in cyber space) of how the ICAEW and other regulators do absolutely nothing about the big four accounting firms tax avoidance even when the courts declare their schemes to be unlawful.
visar.csustan.edu/aaba/LabourPol…

#socialistsunday see page 51 of our report and note why UK is unable to deal with economic, financial and corporate crime. Anyone from anywhere in the world can form companies with virtually no checks, hot money flows to the city, creates market bubbles.
visar.csustan.edu/aaba/LabourPol…