The Financial Conduct Authority (FCA) has issued a rallying call to advisers and the wider industry to help it regulate, saying it "can't do it alone".
Speaking at an event in London today, Clive Adamson, director of supervision at the FCA, said being a reactive regulator no longer works, but that to be a proactive regulator the FCA is relying on the industry to inform it of what is going on. "The FCA has 2,800 people with about 600 on the front line of supervision. We can't push a mountain by ourselves. We need to work with the industry." Adamson (pictured) said the FCA is "holding out an olive branch to the industry", and doesn't want to be seen as being in "an ivory tower in Canary Wharf". "We need your help. It's almost imposs...
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