Increasingly tough legislation from financial regulators will reportedly result in City banks having to hire armies of compliance consultants in 2016 . A survey reveals that lenders and other institutions are so desperate to apply for senior roles in compliance , they are willing to resort to short - term loans to get them . Rates for people in stress testing and credit risk modeling will rise 6.3 % , to £ 850 per day , while temporary roles in market risk reporting will rise 16 % . Barclays ' CEO John McFarlane said in November that the disadvantages due to increased regulation and compliance will cause the uk 's reputation as a financial centre to reach a " boiling point " .
Increasingly tough legislation from financial regulators will reportedly result in City banks having to hire armies of compliance consultants in 2016. A survey reveals that lenders and other institutions are so desperate to hire for senior roles in compliance, they are willing to resort to short-term contracts to get them. Rates for people in stress testing and credit risk modeling will rise 6.3%, to £850 per day, while temporary roles in market risk reporting will rise 16%. Barclays' CEO John McFarlane said in November that the disadvantages due to increased regulation and taxation will cause the UK's attractiveness as a financial centre to reach a "tipping point".