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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

National Audit Office launches review of financial regulator’s effectiveness

FCA National Audit Office NAO Nikhil Rathi Crypto the Financial Conduct Authority
City of London skyline
The Financial Conduct Authority juggles regulation of City firms plus technological innovations. Photograph: Neil Hall/Reuters

The National Audit Office has launched a fresh review of the City watchdog’s effectiveness and ability to manage a growing list of responsibilities, including oversight of cryptoassets and risks surrounding artificial intelligence.

Plans to assess the Financial Conduct Authority (FCA) come in light of “significant changes” in the way it is expected to regulate the financial services sector, the NAO explained.

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