Britain's Financial Conduct Authority (FCA) is pushing for savers to take more financial risks as part of a new five-year strategy aimed at addressing challenges linked to an aging population, the Financial Times reported, citing FCA Chair Ashley Alder.
The regulator also seeks to strengthen trust in financial markets by stepping up efforts to combat fraud. Alder said the FCA would back government plans to ease regulatory burdens and drive economic growth by making investigations more targeted, using artificial intelligence to detect misconduct.
Alder dismissed concerns that this shift could weaken consumer protection, saying the FCA aims to give people better tools for informed risk-taking. "We want to supply retail consumers with far better tools to do this thing that is informed risk-taking," Adler was quoted as saying.
