Tyler was responding to a question from the audience about whether the sector was in line to face increased regulation from the Financial Conduct Authority (FCA).

He said: “We have seen regulation creep. But will we see full-blown regulation of commercial products, as a product, I don’t think we’ll see that for a long time.

“What we do need to do is try and predict what will happen in the future in terms of regulation to ensure we are ahead of it.”

Tyler was talking as part of a specialist final panel at the show which is taking place today (14th October) at the Business Design Centre in London.