Last week, I dreamed of Financial Authorities that were good for Britain. Unlikely, I know, but in this fantasy The Financial Conduct Authority had given up on its mission to eviscerate the UK’s financial services and embarked on a crusade to make them stronger. This Paulene conversion had begun with the Treasury’s brief to strengthen competition, particularly in the banking sector. This was puzzling for them as they had previously been trying to standardise everything. But competition is about choice and choice means allowing businesses to be different.