The revolving door problem is where staff move between lawmakers, legislators, policymakers and regulators on the one hand, and members of the industries they govern on the other. 

It is a known problem in all industries and unfortunately it is a particularly big problem in the financial sector in most (but importantly, not all) parts of the world. 

It is analogous to the movement of people in a physical revolving door. 

In most cases, the roles are performed in sequence, but in certain circumstances they may be performed at the same time. Many regulatory analysts and observers claim that an unhealthy relationship can develop between the private sector and government, based on the granting of reciprocated privileges to the detriment of the nation, and it can certainly also lead to regulatory capture. 

At the TTF we believe that the Revolving Door is a huge problem. In particular, we believe that many financial regulators are conflicted, captured and confused about their loyalties; and that it helps to explain the long list of catastrophic regulatory failure cases that have caused immeasurable harm to investors.

This short, but shocking video of Senator Elizabeth Warren talking about the Revolving Door problem in relation to the US Government and Goldman Sachs, is a superb description of the issue and why it can have such a corrosive impact on the health and integrity of the regulated world, and beyond. 

This is the first TTF event about Revolving Door. At it, we’ll be explaining more about the problem but more importantly, we’ll be exploring what could, should and perhaps must be done about it. 

Furthermore, we’ll be explaining the international initiative that is now underway to tackle the issue, and the role that TTF has within that endeavour.

We have assembled a first class line-up of speakers with thought leaders and subject-matter experts from Europe, the USA and Australia. Our speakers include an important member of the European Parliament who is determined to tackle the corruption, cronyism, unprofessionalism, lousy lobbying and nefarious conduct that the Revolving Door problem leads to:

• Mark Bishop, Leader, Connaught Action Group
• Jeff Hauser, Director, Revolving Door Project, Center for Economic and Policy Research
• Sabrina Pignedoli, Member of the European Parliament
• Dr. Andy Schmulow, Senior Advisor, DB & Associates

The TTF is proud to be running this important event and to be involved with the international project that it’s part of. We’d like to encourage everybody that wants an improved financial services industry in the UK and beyond to attend and join in the discussion – it’s a not-to-be missed event.