The recent crises have brought about a barrage of regulations on banks which have reduced their profitability so much so that a number of major banks have wind down their investment banking operations. Regulation of the financial industry has been a widely debated topic ever since the Global Financial Crisis in 2008. The increased regulations on banks, such as the imposition of the Basel III and the Volcker rule, has significantly curtailed profits of the investment banking industry. In order for investment banking to return to the pre-crisis glorious days, it is likely that a lifting or relaxing of regulations is necessary. This begs the question – do we need more or less regulation of the financial industry moving forward? Firstly, it is commonly argued that the increased regulations will prevent future crises. By having more rules and safeguards in place, financial institutions are prevented from engaging in excessively risky ......