Although he is sensibly bringing the exchange's regulatory functions under one boss, Mr Lawrence thinks too much agonising over regulation is bad for business.
He is dismissive of the Securities and Investments Board's recent report on securities market regulation, suggesting it covers much old ground while putting an unnecessary question mark over how well the London markets are regulated. 'I don't think London is badly regulated,' Mr Lawrence says. 'We shouldn't be fussing about trying to fix things that aren't broken.'
The London exchange is competing with other stock exchanges abroad for trading volumes and listings and, like any company, it will only survive if it produces good new products and markets itself effectively.
Regulation is important, but in a negative sense: if done well it is unnoticeable, but if expensive and cumbersome, customers go away.Reuse content