The Financial Services Act of 1986 put an end to the pure self-regulation regime. Financial interests opposed it vigorously at the time, viewing it as the thin end of a dangerous wedge, though they could not have guessed just how thick that wedge would eventually become.
撒切尔的财政大臣奈杰尔·劳森（Nigel Lawson）否认这一点。（充分披露：20世纪80年代我是劳森的顾问。）他指出，改革有新监管作为补充。1986年金融服务法终结了纯粹的自我监管制度。当时，金融利益集团强烈反对它，认为这潜藏凶机，尽管它们无法猜想凶机最后能凶到什么程度。