The grass is greener?

Hector Sants is no longer Mr Nice Guy (if he ever had been). Having just declared a new era for UK financial regulation, he has built up his army of regulatory enforcement officers and issued a stern warning to rebels that their days are numbered: comply, or else.

Unfortunately, though, those falling under the jurisdiction of the Financial Services Authority (FSA) - the throne that Mr Sants' army defends - have not had much reason to be fearful up to now. And most would probably guess that the o