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NEWS: FCA, UK’s finance watchdog, warns government over ‘harm’ from reduced regulation

FCA: Nikhil Rathi, the regulator’s chief executive

By Tommy Reggiori Wilkes and William James

BRITAIN’S finance watchdog told the government on Friday that it would “take greater risks” to support its drive for more economic growth but warned that the approach would lead to more failures and harm to consumers and businesses.

Financial and Conduct Authority (FCA) Chief Executive Nikhil Rathi wrote in a letter sent to Prime Minister Keir Starmer and finance minister Rachel Reeves that it would collaborate to support the government’s growth mission, as it set out proposals including easing mortgage access and reducing regulations.

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