Regular readers will know the tired drumhead I beat about regulation. Legal compliance does not a responsible entity make.
As a means to encourage more ethical behaviour, regulation (particularly self-regulation) is a deeply flawed strategy, and anyone who doubts it need look no further than the seemingly endless revelations in the Telegraph this past week concerning MPs’ expenses.
Anyone who still thinks increased regulation is the cure for all our woes needs their head examining.
As this rather grubby little episode in British politics clearly demonstrates, following the rules is no guarantee of probity. Far from it, all it seems to do is encourage people to think, “What can I get away with?”