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Examine both deregulations and reregulations, analyse their aims and effects to see if they are in opposition.
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Question 1 Introduction People argue reregulation has revoked the effects of deregulation and others argue they are complementary to each other. In this article, we will examine both deregulations and reregulations, analyse their aims and effects to see if they are in opposition. Deregulation and reregulation Deregulation The following acts are examples of deregulation in the UK since 1980: The 'Big Bang' (27 October 1986): The 'Big Bang' made the four major changes to members of London Stock Exchange, which include abolished minimum commission, the distinction between jobbers and brokers, the ban on banks owning members firms and trading went from the 'floor' to screens and telephones. Building Societies Act 1986 (BSA1986): The Act gave societies powers in five areas, namely, * Money transmission, * Unsecured lending and personal lending, * Operations of non-financial products businesses such as tax and financial planning, * Operations of financial products businesses such as life insurance, and * Wholesale funding. Furthermore, the Act gave...
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