UK’s Wheatley outlines behavioural foundations of FCA approach
In future, regulators will focus on incentive structures and will not treat consumers as fully rational and perfectly informed, Martin Wheatley, the CEO-designate of the UK's new Financial Conduct Authority (FCA), has said.
Speaking on December 5 at the Cass Business School in London, Wheatley said regulators had previously put their faith in the rationality of consumers. "For a long time the regulatory response to problems in markets was simply to say, ‘Well actually you just need more
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