Whilst looking at the ICAEW budget submission I noted its G20 submission.
Guess what? Not a mention of tax havens. Or offshore. Not one.
But there was this:
If regulation of systemic risks is to be effective, it must relate to the whole system. With global capital markets, the tools for managing systemic risk also need to be global in nature. This does not necessitate the creation of a new international regulator, but does require better methods of monitoring and coordinating the regulation of systemic risk across borders.
In other words, let’s ignore the problems and carry on as we were. It’s a recipe for disaster.
And further indication of the abuse that the professions wish to perpetuate.