ABI bemoans FCA's 'adversarial' remit

One of the successors to the Financial Services Authority, the FCA will have the power to temporarily ban products without consultation and will also be able to mandate the inclusion or exclusion of specific product features. In a memorandum submitted to the Financial Services Bill committee, which is scrutinising the legislation establishing the FCA, the ABI set out its key concerns. It said the FCA was being established with an "unnecessarily adversarial remit", suggesting this could lead to a difficult relationship between the regulator and regulated, "with little benefit to the co...