The City watchdog has slashed the number of secret investigations it carries out on financial firms despite taking on sweeping powers to protect customers and prevent scandals, The Mail on Sunday can reveal.
The news comes as the Financial Conduct Authority (FCA) comes under mounting pressure from ministers to adopt a more light-touch approach to regulation to boost anaemic growth.
Rachel Reeves has claimed that onerous rules and red tape are ‘a boot on the neck’ of businesses that risked ‘choking off’ innovation without bold reforms.
The Chancellor’s comments earned a rare rebuke from Bank of England Governor Andrew Bailey, who warned against
To provide well-rounded coverage and a breadth of insight across various events, we rely on contributions from several staff writers, each bringing their own area of expertise to our publication.
