From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

  1. Home
  2. Policy
  3. Consultation responses
  4. FCA consultation paper on its future Mission.

FCA consultation paper on its future Mission.

Last updated: 25 Jan 2017

Consulting body:
Financial Conduct Authority
Status:
Closed
Period of consultation:
Runs from 26 October 2016 to 26 January 2017
CML action:
Response submitted

The Financial Conduct Authority (FCA) has issued a consultation paper on its future Mission. This is designed to provide a guiding set of principles around the strategic choices the FCA makes and will inform the FCA’s strategy and day-to-day work over the coming years.

The consultation document sets out a number of key themes, including:

  • Protecting consumers
  • Vulnerable consumers
  • Delivering consumer redress
  • When the FCA intervenes
  • The scope of regulation
  • The interaction between regulation and public policy
  • Competition, supervision and enforcement
  • FCA Handbook

CML response

In our response to the call for evidence we note that members are looking for stability, proportionality, co-operation, streamlined decision making and better communications with regulated firms.

We are especially pleased to see the discussion on the interface between public policy and regulation, an important but often neglected subject. When the interface works well, it can be very effective.

The full CML response can be downloaded below.