There are tens of thousands of other healthcare practitioners, including clinical physiologists, who are not subject to proper regulatory oversight.

Its proposals also include introducing mandatory joint auditing and preventing companies from appointing an auditor without regulatory oversight.

It plans to increase its budget by 13.2 per cent to £47.2 million to cover costs related to its expanded regulatory oversight.

It raised questions over how a retail market for high-risk investments had been able to continue with little regulatory oversight for so long.

To take financial issues first, experts these days are attributing current economic difficulties to a number of things: bad mortgage lending practices, lack of regulatory oversight, and globalized market structures.