UK financial watchdog bolsters data spend in bid to stop scams

The Financial Conduct Authority said on Thursday it will spend 120 million pounds ($166.20 million) to improve its data strategy and spread more staff across Britain to tackle market abuses faster.

“The FCA must continue to become a forward-looking, proactive regulator. One that is tough, assertive, confident, decisive, agile,” FCA Chief Executive Nikhil Rathi said in a statement accompanying the watchdog’s new business plan.

($1 = 0.7220 pounds)