20 July 2018


Retired Member

3,615Posts 14,172,561Views 4,515Comments
Finextra community

Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

FCA details its pragmatic approach to reporting obligations

09 December 2013  |  1590 views  |  0

The Financial Conduct Authority (FCA) held the Markets Conference in November in which Martin Wheatley, Chief Executive, FCA, and David Lawton, Director of Markets, FCA, both delivered keynote speeches.

Mr Wheatley surveyed the new global regulatory landscape and how it has changed in recent history, emphasising its global nature and tightened regulatory standards.  Mr Wheatley noted that to reap the benefits of transparency and the new reporting obligations FCA needed to be pragmatic. The FCA recognised that the easier it is for firms to roll out consistent standards across the systems and processes they run, the more likely they are to successfully comply with regulatory requirements.  Harmonised rules across Europe are essential and FCA recognises that harmonisation done pragmatically, and at the right level, is a good thing.

Mr Lawton focused on the FCA’s approach to market supervision, emphasising the need for the FCA’s supervision to evolve in light of changing circumstances.  He explained that the need for evolution was driven by the complexity and dynamism of the markets the FCA regulated.  In this context the FCA’s transaction reporting databases received 12 million transactions a day (approximately 70% of transactions undertaken in Europe), the UK is home to nearly half the global interest rate derivatives markets and over 40% of the FX market.  Mr Lawton highlighted:

  • a renewed focus on wholesale conduct;
  • a regulatory approach which focuses on market integrity; and
  • a more holistic regulatory approach which would draw together the FCA’s data and surveillance capabilities with its supervisory and policy tools.

 Related Links:

Mr Wheatley


Mr Lawton


Comments: (0)

Comment on this story (membership required)

Retired's profile

job title
member since 2014
Summary profile See full profile »

Retired's expertise

Member since 2009
3596 posts4,515 comments
What Retired reads

Who's commenting on Retired's posts

Pooja Golakonda
Behzod Sabirov
Ketharaman Swaminathan
Melvin Haskins
James Treacher
Kenneth Marritt
Mark Santall
Alexander De Lange
Graham Seel
Kishore Meda
Willem Lambrechts