Irrespective of people’s views as to the optimal level of regulation, especially at a time when major markets such as the US, UK and European Union are looking for growth in a volatile geopolitical and macroeconomic environment, the relationship a bank or other regulated institution has with its regulators is of paramount importance. Along with customers, colleagues, investors and shareholders, the regulators are a key stakeholder group.

As someone who has spent time on both sides of the fence, I