FCA consultation paper on its future Mission.
Last updated: 25 Jan 2017
- Consulting body:
- Financial Conduct Authority
- 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
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.