“‘Pay day’ lenders charging 1000% interest are best controlled by competition not regulation.”  Discuss. 

The Prize, which is worth £1,500, is also accompanied by a six week internship at the Financial Conduct Authority (FCA) (two weeks with the Regulatory Decisions Committee, two weeks with the Enforcement Division, and two weeks with the General Counsel’s Division).  The competition was judged by Tim Herrington (Judge of the Upper Tribunal and former partner at Clifford Chance (and former Bristol law student)), Mr Justice Cranston (former Solicitor General and former Professor of law at the LSE), and Professor Eva Lomnicka (of King’s College, London and barrister at 4 New Square, London).