For a generation, UK regulation has had EU and global as well as national components, and since the crisis all three have been frenetically busy. 

Now, a decade on, the FSB is attempting to draw a line at the global level, and the PRA CEO sought to do the same in his Mansion House speech last October. 

However, last week's FCA Business Plan showed no sign that the conduct agenda is slowing down, identifying something like 35 risks and 75 outcomes, as well as some new market studies. 

And meanwhile, 2018 will see the implementation of several rafts of new regulation - from MiFID 2 to PSD 2 to Ringfencing.

The reality is that the regulatory jigsaw is likely to keep growing for the foreseeable future. One clue to this is the FSB reference to "unintended consequences". There are likely to be several, not least due to the virtual impossibility of assessing in advance the aggregate impact of the different, overlapping reforms. 

To succeed in this environment, firms will need to stay on top of the overall picture, alert to emerging links and dependencies, and avoid getting drawn into treating each regulation as a standalone operational challenge.