UK:
Judging The Financial Conduct Authority 5 Years On
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On April 1 this year, the Financial Conduct Authority turned five years
old. Born from and in reaction to the financial crisis, its
principal purpose was to protect consumers, through more effective
supervision and more aggressive enforcement. Naturally, the FCA, as
with any regulator, has not been immune from criticism. However, it
has grown up during a period which has seen political and
technological change at an eye-watering pace. Under those
conditions, and with finite resources, pursuing its enforcement
objectives has been a difficult exercise — hard enough for
any bureaucratic public agency, let alone one newly created.
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Originally published by Law360
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