The Financial Conduct Authority (FCA) CEO Nikhil Rathi has said the regulator is an “outcomes-focused” organisation and its push for consumer fair value under Consumer Duty is not a “Trojan horse” for price regulation.
Speaking at the Morgan Stanley European Financials Conference today (14 March), he said the FCA would be pragmatic on Consumer Duty enforcement and would tackle breaches that posed the "greatest risk of harm but looking favourably on firms that have made reasonable efforts to address concerns". Industry backs House of Lords call to reform 'misleading' investment trust cost disclosure He also said: "We are not a price regulator and we will not stand in the way of well-run businesses making profits in the face of effective competition." Rathi added the regulator wanted a deeper, more...
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