FCA: 'We will never operate a zero-failure regulatory regime'

Response to Chancellor Rachel Reeves

The Financial Conduct Authority (FCA) has written to Chancellor Rachel Reeves stating that in reality, it will “never operate as a zero-failure regulatory regime”.

In the letter signed by FCA CEO Nikhil Rathi and chair Ashley Alder on Monday (9 December), the watchdog stated that operating as a zero-failure regulatory regime would "stifle innovation at a cost not just to business but consumers too". Tulip Siddiq: FCA 'has gone too far in seeking to eliminate risk-taking' "We will always have to make judgements about how best to deploy our resources. It is not feasible to pursue every piece of intelligence or concern raised about the 42,000 firms we regulate nor all complaints we receive on unauthorised activity," the letter stated. The FCA sa...