UK’s Wheatley outlines behavioural foundations of FCA approach

Martin Wheatley

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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