Q&A: Prevention trumps prosecution, says UK's retail banking overseer
The FCA's director of retail banking supervision, Karina McTeague, highlights the regulator's focus on acting early and working with firms to prevent misconduct
Financial firms that act in a transparent manner with the UK's Financial Conduct Authority (FCA) and report concerns early can expect more leniency in case of violations, as the regulator is much keener to prevent wrongdoing than to punish it.
This is the message from Karina McTeague, the FCA's director of retail banking supervision since November 2013, who outlined to Risk.net how the watchdog
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