How to staff the principles revolution

Judging by recent pronouncements from the direction of Wall Street, principles-based regulation is alive and well and living in Canary Wharf. Seen from the Docklands fastness of the Financial Services Authority, however, it is still a work in progress. What is more, it is work that now requires a radical refinement of those who actually carry it out. So goodbye Peter Pettifog; hello, Felicity Flexible.