Britain’s financial regulator is reducing the number of undercover investigations it carries out into financial firms, according to reports. The decision comes despite the watchdog having recently taken on broader powers intended to protect customers and prevent future scandals in the financial sector. The coverage says the regulator has “cut back” on secret probes, narrowing the scope of its covert oversight activities even as its mandate remains focused on safeguarding consumers. The reports do not provide detailed figures in the excerpts provided, nor do they specify which types of firms or cases are most affected. They also do not describe the reasons for the reduction or how it may change the regulator’s enforcement approach overall. Overall, the articles present the move as a shift in how the watchdog uses its investigative resources, contrasting reduced covert activity with an expanded remit meant to strengthen consumer protection and oversight.