U.K. FCA Chief Appeals to Insurers to Back Financial Regulator

U.K. Financial Conduct Authority acting chief Tracey McDermott appealed to insurers to get behind the regulator as she set out her plans for the industry.

“While our roles are different, and while a degree of challenge and creative tension between the regulator and the industry is not only healthy but also desirable, ultimately, in most of what we do, both regulators and the industry want the same things,” McDermott said Tuesday at a conference held by the Association of British Insurers, according to a copy of her speech.