The Financial Conduct Authority (FCA) is an “outcomes-focused” regulator and its push for consumer fair value under Consumer Duty is not a “Trojan horse” for price regulation, chief executive (CEO) Nikhil Rathi has said.
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". 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 open relationship with investors, analysts, and the markets as a whole - "particularly now th...
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