Regulator criticism

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Sir Alan Hardcastle, head of regulation at Lloyd's of London, was described yesterday as "a pretty sad case for a regulator" by a Labour MP at the Treasury and Civil Service Select Committee. Diane Abbott told Sir Alan he was totally incurious for a regulator. She said: "You are in the position of a detective superintendent who goes into an office, finds a large stinking corpse and steps daintily over it, saying `It happened before I came'."