FCA to lean more on Consumer Duty to swerve introducing additional regulation

The Labour government made the need for growth a key priority in both its election manifesto and ruling agenda, with the chancellor recently calling on all regulators to assess measures and areas that may be stifling growth across their respective sectors. In his letter, Rathi listed all the steps the watchdog has taken so far to boost this metric, from the reforms to the Listings Rules, to "revolutionising provision of financial advice", to the launch of long-term asset funds (LTAFs), and changes to the fixed income and commodity markets. He wrote "growth will be a cornerstone of our...