Supervision not regulation, says SEB's Hansen
Rather than rushing to increase regulation and potentially creating compliance costs and regulatory risks, authorities should be getting involved at the ground level to improve supervision, says Lars Hansen, Swedish insurer SEB Life’s chief risk officer
In response to the banking crisis and the continuing economic slowdown, governments around the world have rushed to introduce regulatory reforms for the financial sector.
They’re right to do so – but the details of their approach are flawed, argues Lars Hansen, chief risk officer at SEB Life, the life insurance division of Swedish bank SEB, in Stockholm. Instead of concentrating on blanket reforms, board responsibility and higher capital levels, regulators should be taking a lower-level approach
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