“Treasury to hand FCA big new regulatory mandate”

Mar 12, 2021 | Economy

So the FCA is going to be asked to ‘reduce burdens for firms whilst maintaining high standards of regulation’ as they tear up the Euro red-tape and make us a ‘dynamic financial centre’. Here’s what will happen. Lots of the rules will go and instead we’ll have a ‘common sense approach’. The regulator will then tell us that our common sense is not as common as theirs, and advisers will say, ‘please tell us what you want us to do’. So they will and lots of rules will reappear. Then there’ll be a big financial scandal, MPs will say ‘sort it out’, even more rules will reappear and the circle will be complete. Cynical? Moi?

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