The FCA’s chief executive, Nikhil Rathi, issued the following statement on 25th March regarding the launch of the FCA’s new strategy:
This morning we’ve launched our new strategy, setting out how we’ll work over the next 5 years to deepen trust, rebalance risk, support growth and improve lives.
We’ll focus on 4 priorities:
- Being a smarter regulator, making sure we are predictable, purposeful and proportionate. We’ll improve our processes and embrace technology to become more efficient and effective.
- Supporting growth, by enabling investment, innovation and ensuring the continued competitiveness of our world-leading financial services.
- Helping consumers navigate their financial lives by working with industry to boost trust, product innovation and making sure the right information and support is available.
- Fighting crime, focusing on those who seek to use the fact they’re regulated to do harm. We will go further to disrupt criminals and support firms to be an effective line of defence.
We engaged widely as we developed our strategy. We’ve hugely valued the insight and collaboration offered – including from industry bodies – and will continue this approach. We want to, and need to, work with you all to make sure we can deliver against our vision.
We’re starting from a strong place. Over the course of our last strategy, we’ve overhauled the listing regime so it’s easier for companies to raise money, introduced the Consumer Duty to set higher standards of consumer protection, authorised firms that meet our high standards more quickly, and kept more potentially harmful firms out of financial services.
We’re ambitious for the future, and committed to enabling a fair and thriving financial services market for the good of consumers and the economy.
Source: FCA
