Last year FCA launched a new three-year strategy to improve outcomes for consumers and in markets throughout the UK.
This week, they have published a Business Plan for 2023/24, which sets out their priorities for the second year of this strategy, and one which you may find interesting to share with your finance departments.
The business plan outlines how they plan to:
- Putting consumers’ needs first including embedding the Consumer Duty and continuing to support consumers with the rising cost of living.
- Strengthening the UK’s position in global financial markets to support growth and innovation in the UK, while maintaining high standards, including continuing to reform our listing rules, implementing the wholesale market review and bringing forward proposals on asset management regulation. We are further investing in our data capabilities to ensure effective market oversight.
- Preparing financial services for the future, including embedding our new secondary objective on international competitiveness and growth and implementing the outcomes of the Future Regulatory Framework review and Edinburgh Reforms.
- Reducing and preventing financial crime and fraud, including increasing our use of data and proactive supervisory work to crack down on financial crime and continuing to help consumers spot the signs of scams through our ScamSmart campaign.
For more information, or if you have any questions, please contact us.