FCA published its business plan for 2018-19, setting out the key priorities for the coming year. Along with the business plan, FCA published a consultation paper on annual fees, its sector views, and a discussion paper on its evaluation framework.
The priorities in this year’s business plan reflect the high level of resources FCA needs to dedicate to the EU withdrawal, given its impact both on the regulation and the firms FCA regulates. FCA will also focus on seven cross sector priority areas, based on assessments of where there is the greatest harm or potential for harm and where intervention can have the greatest impact. The priority areas are:
- Firms’ culture and governance
- High-cost credit
- Tackling financial crime, including fraud, scams, and anti-money laundering
- Data security, resilience, and outsourcing
- Innovation, big data, technology, and competition
- Treatment of existing customers to ensure that they do not get less attention or receive poorer outcomes than new customers
- Long-term savings, pensions, and intergenerational differences, which reflect the changing UK population and their financial needs
Keywords: Europe, UK, Banking, Insurance, Securities, Business Plan, FCA
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