UK financial regulator says it welcomes focus on economic growth

LONDON (Reuters) – Britain’s Financial and Conduct Authority (FCA) said on Friday it would collaborate with the government on a new approach that supports economic growth.

© Reuters. FILE PHOTO: Buses cross Waterloo Bridge with the City of London financial district seen behind, in London, Britain, March 5, 2024. REUTERS/Toby Melville/File Photo

“We want to collaborate with you in a fundamentally different way to support the growth mission,” FCA Chief Executive Nikhil Rathi wrote in a letter to Prime Minister Keir Starmer and finance minister Rachel Reeves.

Reeves on Thursday urged Britain’s regulators to remove barriers to economic growth, tasking them with creating a regulatory environment that boosts investment and innovation.

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