FCA flexes its regulatory muscles
Brokers remain unconvinced by new regulator as industry prepares for probe into claims handling
Fears have been stirred that following its bedding-in period, the Financial Conduct Authority (FCA) is beginning to flex its regulatory muscles.
A recent report in the Financial Times warned that the FCA had kicked off a series of site visits at the City’s banks and assets managers as part of an investigation probe. The office swoops were described as “the most dramatic example” so far of the FCA’s focus on making sure that elements of the wholesale markets “protect the interests of end users”.
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