The Financial Conduct Authority's chief executive, Nikhil Rathi, has called for a “debate” about the risks and trade offs when it comes to shaping regulation for “innovation, opportunity and growth”, as Britain’s regulator strives to strike a balance between government demand and regulatory prudence.
Speaking before the Treasury Committee today (25 March), Rathi said the watchdog will not be able to prevent all harm taking place on financial markets in the context of easing regulation for growth, but he added this "might be a price worth paying for the broader benefits to society and the economy". He listed financial crime and regulatory controls around sanctions and money laundering, about which companies have complained before, as an example, with most of the controls having been the result of statutes passed by parliament. FCA to cut down on financial sector regulation as it pr...
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