Congratulations to David Gamble, executive director of risk management association Airmic, who was crowned the winner of a competition run recently by the Financial Times.

The competition asked the public to come up with a collective noun to describe regulators, and while a 'gaggle' was the first term to spring to Backchat's mind, Gamble did rather better with his winning entry, describing regulators en-masse as a 'knot'.

Backchat was pleased to hear that Gamble walked away with a bottle of scotch for his trouble - at least someone in the industry is getting some reward from regulation.