The birds and the bees, why a zoologist is talking about financial risk
Professor Lord John Krebs Kt FRS, renowned zoologist and chairman of the board at Oxford Risk, delivered a lecture to the FCA as part of their ‘FCA Insight Lecture’ series at 1830 on November 22nd 2017, at Haberdashers’ Hall, London EC1A 9HQ.
The talk explored how plants and animals have evolved mechanisms to respond to risk and uncertainty in their environment, and whether or not insights from biology have relevance to financial services.
Lord Krebs drew on his experience of chairing the Food Standards Agency, to consider the role of regulation versus individual choice, and situations in which regulation might be necessary. He considered whether there is any read-across from regulation of food to regulation of financial services.
The talk also considered how insights from behavioural science might best be used to improve the quality of advice about consumers’ financial decisions.