LONDON, (Reuters) – Britain’s financial watchdog announced Thursday that it would create 80 additional roles in order to close down trouble companies more quickly as it is under increasing pressure from legislators to address a growing number of frauds.

Financial Conduct Authority stated that a three year business plan will be created to prevent consumer harm, promote market competition and establish higher standards.

It is the latest step in a transformation which CEO Nikhil Rathi has said will turn the watchdog into a faster, more aggressive regulator after criticism it was too slow to prevent costly failures such as the collapse of investment fund London Capital & Finance.

It stated that it would also hold its regulator accountable for published results and performance metrics.

The FCA’s new strategy allows it to be more responsive to rapidly evolving financial services industry. Rathi stated in a statement that it will provide a solid foundation for us to continue improving our services to all stakeholders and to respond quickly to geopolitical and economic developments.