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UK Parliament should debate growth, failure trade-off, FCA says

By Phoebe Seers ( January 22, 2025, 14:06 GMT | Insight) -- Loosening mortgage rules and relaxing anti-money laundering requirements may spur economic growth but risks more repossessions and more money mules in the UK, the head of the Financial Conduct Authority said today. In response to the government’s pro-growth agenda, Nikhil Rathi has led calls for the government to consider setting acceptable tolerances for failures. “Metrics for tolerable failure is hard...but is there a range that would be seen as broadly politically acceptable in Parliament?” he asked lawmakers today. Loosening mortgage rules and relaxing anti-money laundering requirements may spur growth but could also lead to more repossessions and more money mules in the UK, the head of the Financial Conduct Authority said today....

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