Treasury writes to FSR Committee on “growing pains”

Lucy Rigby, Economic Secretary to the Treasury, has written to the Financial Services Regulatory Committee on the need for clarity and culture change to ensure the secondary growth and competitiveness objectives are embedded within the PRA and FCA. She noted the initiatives taken since the Committee wrote to Treasury in October, such as the new concierge service, the Scale-Up unit, the plans to review application of the Consumer Duty and the provisional licence regime plans.

The letter also includes detail on other specific issues such as supporting specialist lenders to SMEs.