UK Finance Watchdog to Ease Up on Firms Doing ‘the Right Thing’

The UK’s top financial watchdog has promised a “less intensive approach” to firms whose intentions are pure, signaling a more pragmatic stance in a new five-year strategy that leans heavily into the government’s growth agenda.

The Financial Conduct Authority, responsible for supervising some 42,000 firms, is trying to cut back on excessive form-filling and other hurdles that the industry says makes the UK a less attractive market.

The Labour government has vowed to take decisive action if any regulators are found to be holding back the growth that it’s depending on to restore the public finances. It’s already set ...