November 29, 2022

FCA admits being unprepared for ‘mini’ Price range’s risk to

FCA admits being unprepared for ‘mini Budgets threat to

FCA admits being unprepared for ‘mini Budgets threat to

Britain’s monetary regulator has admitted that it was not ready for the risk to pension funds posed by sharp rise in bond yields within the wake of Liz Truss’s “mini” Price range, saying the problem had not been “proper on the prime of the radar”.

Nikhil Rathi, chief of the Monetary Conduct Authority, made the admission throughout a listening to of the Home of Lords’ trade and regulators committee, which was inspecting how turmoil within the bond market led the Financial institution of England to pledge…

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