Speaking before the Treasury Committee today (3 December), William Wright, founder and managing director at the New Financial think-tank, said media and political scrutiny have a tendency to “default to consumer protection”, which forms part of the primary objective of the FCA.
Because of heightened focus on consumers, the watchdog, “and to a lesser extent the Prudential Regulation Authority” face a “near impossible job” in striking a balance between consumer protection, market stability and integrity, as well as competition, Wright added.
David Postings, chief executive of UK Finance…
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