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UK FCA’s proposed failure metrics underscore risks in pro-growth agenda

By Phoebe Seers and Sofia Gerace ( January 20, 2025, 14:31 GMT | Comment) -- The UK government's relentless pro-growth agenda could lead to more companies failing and more fraud, the financial services watchdog has warned. The question now is how much failure the government is willing to tolerate in pursuit of growth. To drive home the risks, and focus the government's attention on the trade-offs at hand, the Financial Conduct Authority has proposed metrics to determine what degree of harm the government will tolerate to achieve its objectives.The UK’s Financial Conduct Authority is under relentless pressure to grow the economy and has responded with a series of initiatives to cut red tape, even on financial crime controls. The FCA has warned that this approach will inevitably cause companies to fail. To drive home the message, it has suggested the government consider a new set of metrics to define exactly the extent to which it wants to see companies fail in the pursuit of growth....

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