SIR HOWARD DAVIES.

profiles Sir Howard Davies, one of the most powerful financial regulators in Europe. His role in the 2001 formation of the Financial Services Authority, which regulates all British finance, and resulted in the merger of the once-separate insurance, banking and thrift regulators in several countries; Discussion of regulation based on risk assessment, rather than rigid rules, and with the aim of maintaining competitiveness while protecting consumers; Criticism of Davies by consumer groups and Parliament in Great Britain, including for the issue of highly-leveraged investment split trusts.