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

In the letter signed by FCA CEO Nikhil Rathi and chair Ashley Alder yesterday (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". "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 read. The FCA said that it will continue to "bolster" its operational effectiveness, including...