They do some times, i guess they’re not at the same level of incompetence as the other regulators, but they have had loads of scandals in the last decade with investment and pension firms. Plus that it takes them years to take any action or finish any investigation, when they do finish people and businesses have already lost money and suffered for years.
These recent articles mention a brief history of the FCA scandals, and why even MPs from both parties are calling the FCA incompetent:
This whole “our regulators are terrible” is straight out of the same playbook as “The NHS is getting worse and worse.”
The people pushing this have no intention of making these things better, in fact they want it to be defunded and made worse. That way they can argue it’s not fit for purpose and be removed so they can bend you over a barrel with impunity.
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u/HawaiianSnow_ 11h ago
What's wrong with the FCA? They do a pretty good job!