The FCA has now published its latest Business Plan for 2021/2022, setting out the main objectives and priorities for the year ahead.
Highlighting the regulator’s commitment to be forward-thinking and proactive Chief Executive Nikhil Rathi commented that the FCA would continue to be
“more innovative, assertive and adaptive.”
Key areas of focus for the regulator include further protecting consumers, increasing the effectiveness of wholesale markets and focusing on issues which apply on a cross market basis. These issues include fraud, operational resilience, diversity and inclusion and supporting environmental issues.
Additionally, a review is to be conducted of aspects of the rules on the scope and coverage of Financial Service Compensation Scheme pay-outs for specific regulated activities. The regulator would further like to streamline decision making on authorisation applications and specific supervisory and enforcement decisions.
The Business Plan also commits the FCA to becoming a regulator for the whole of the UK, and is looking to establish offices in Leeds, Belfast and Cardiff.
Read the full FCA Business Plan here https://www.fca.org.uk/publications/business-plans/2021-22