UK financial regulator to come under renewed pressure to 'grow' economy
By Phoebe Seers ( November 14, 2024, 18:00 GMT | Insight) -- The UK’s financial services watchdog looks set to come under renewed pressure to grow the economy and prioritize international competitiveness in its policy making. Finance minister Rachel Reeves will use a key speech tonight to announce a fresh growth and competitiveness remit for the Financial Conduct Authority, as she criticizes regulation which has "sought to eliminate risk taking.” The UK’s financial services watchdog looks set to be handed a renewed responsibility to prioritize UK growth factors into its policy making amid rising industry discontent about how the regulator has implemented its secondary growth and competitiveness objective. ...
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