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FCA sets out its approach to advancing its objectives

Release from the FCA on how it intends to deliver on its responsibilities, will be very interesting to see how much of this is reiterated in the Regulation and Rebuilding Trust plenary session at Sibos on Weds 18th Sept.  What feedback will the panel provide and where do they see the key challenges and conflicts with the national regulators? If you cannot attend and would like a question raised let me know and I will endeavour to find out either during the session or with one of the panel during
the week.

In brief, The Financial Conduct Authority’s (FCA) has published preliminary guidance
about how it intends to deliver its statutory responsibilities. The guidance is based on the FCA’s three operational objectives of:

  • protecting consumers (see chapter one);
  • ensuring market integrity (see chapter two); and
  • promoting effective competition (see chapter three).

The guidance reaffirms that FCA will seek to be more judgement-based in its
actions, dealing with potential issues at the earliest possible stage. 
FCA will gather evidence from market analysis in order to inform any required
action to address market problems,

Comments are requested by 27 September 2013. The FCA will publish a summary of the feedback it receives and issue final guidance by early 2014.

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