Andrew Goodwin casts his eye over the regulator’s targeted support plans and says we may be in grave danger of putting the cart before the horse...
The Financial Conduct Authority (FCA) recently earned rave reviews for proposals for what it calls "targeted support". The word "revolutionary" was excitedly bandied about as the regulator laid out its latest vision. Forgive me for being a party pooper, but I'm afraid I couldn't quite bring myself to share in the pervading enthusiasm. In my view, at least at present, the notion of targeted support is less a reason to begin dancing in the street and more a source of wearily familiar concern. We should first quickly remind ourselves what the goal is here. I'm not sure I can articulate ...
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