FCA CEO confirms 'less rules' in regulator's approach

Speaking as a guest on the Fairer Finance podcast, Rathi acknowledged that "not every problem is going to be solved quickly by doing big interventions, more rules, bans, guidance". "I think that there's a whole range of influences that are informing our willingness to write lots of new rules…. we're moving to an outcomes-based approach, and that will mean less rules in the future because we think the Consumer Duty will do a lot of the work for us," he set out. Rathi then highlighted the regulator's approach to enforcement action. "The Treasury, I think, weren't pretty secret ...