F.A. Hayek, “The Road to Serfdom”:
"The principle that the end justifies the means is in individualist ethics regarded as the denial of all morals. In collectivist ethics it becomes necessarily the supreme rule; there is literally nothing which the consistent collectivist must not be prepared to do if it serves 'the good of the whole,' because the 'good of the whole' is to him the only criterion of what ought to be done. ...collectivist ethics... knows no other limit than that set by expediency—the suitability of the particular act for the end in view."
Speech by Clive Adamson, Director of Supervision, Conduct Business Unit, FSA, 14 Jun 2012:
The strategic objective of the FCA is to ‘making markets work well’.
Our previous supervisory approach was too focused on disclosure at the point of sale.
The new supervisory approach will comprise of five main elements:
1. To be more forward-looking in assessment of potential problems: We will continue to move towards challenging firms about whether their business models deliver good outcomes for consumers and, where we disagree with management have the confidence in our judgment to require firms to change their business models.
2. Intervene earlier when we see problems.
3. Address the underlying causes of problems that we see, not just the symptoms.
4. Secure redress for consumers if failures do occur.
5. Take meaningful action.
No words need to be added.