Financial Conduct Authority CEO Nikhil Rathi said the regulator is “willing to be bold” in its action to bolster growth alongside the government, but warned that there is “a debate to be had” around the speed of regulatory change.
Speaking today (27 February) at the Association of British Insurers (ABI) roundtable, Rathi said the UK's financial watchdog wants to "streamline" its work and "end duplication" to improve efficiency and help pursue the growth ambitions of the incumbent Labour government. "Tackling this urgent problem requires bold strokes – from all of us," he said, before adding that "we need to be bold not just in 'what' we do, but 'how' we do it". Last month, Rathi wrote to Prime Minister Keir Starmer to address the expectation for firms to have a Consumer Duty board champion. "From this morning...
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