Treasury Committee urges expansion of FCA's powers

It follows frustration voiced by FCA chief executive Andrew Bailey and FCA chair Charles Randell about the extent of the so-called "regulatory perimeter", which determines what the regulator can and cannot regulate. The FCA's recently published report on the perimeter saw Bailey note that the question of its responsibilities had been particularly important in 2019 as "firms operating on the edges of the perimeter have recently caused serious harm to consumers". Meanwhile Randell recently told the Treasury Committee that he is "personally very unhappy… with the complexity of the perimeter...