LONDON (Reuters) – Britain’s financial watchdog on Monday launched two reviews of financial market and product rules aimed at streamlining rules to cut costs and boost growth, now that a stringent new duty to put consumers first has had time to bed down.
“We now want to seize the opportunity of the Duty and the move to a clear outcomes-based approach to streamline our rulebook, lowering costs for businesses and supporting the competitiveness and growth of the economy,” Financial Conduct Authority Chief Executive Nikhil Rathi said in a statement.
(Reporting by Huw Jones; Editing by Kevin Liffey)
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