Russian regulator warns against too much regulation

02/14/2013 | Bloomberg

Rather than adding market supervision, the Russian government should spur financial growth, said Dmitry Pankin, head of the Federal Financial Markets Service. "It's very dangerous to pass such a huge new wave of regulation. Really, we don't need more regulation; we need effective regulation," Pankin said. "In our past life, we had a very relevant example of the Soviet Union, when we tried to regulate everything, to introduce regulation in every process, but the result was that the whole system collapsed."

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