FCA to rely more on Consumer Duty to avoid introducing additional regulation

Removal of Consumer Duty champion from boards

The chief executive of the Financial Conduct Authority, Nikhil Rathi, has written to the government to set out the regulator’s path to unlock growth for the UK economy.

The Labour government made the need for growth a key priority in both its election manifesto and ruling agenda, with the chancellor recently calling on all regulators to assess measures and areas that may be stifling growth across their respective sectors. FCA 'monitoring' developments in Saba saga In his letter, Rathi listed all the steps the watchdog has taken so far to boost this metric, from the reforms to the Listings Rules, to the launch of long-term asset funds (LTAFs), and changes to the fixed income and commodity markets. He wrote "growth will be a cornerstone of our strat...