Regulatory Academy: The FCA 5 year strategy

This webinar will look not only at what the Strategy says but also at some of the implications of the 4 priorities for regulated firms, particularly in relation to technology and how firms may be impacted to help build (in Nikhil Rathi’s words) the smooth, integrated connections people need to move confidently through their lives.

Whilst not much in the document came as a surprise, nonetheless it does mark a significant shift in the FCA’s approach to its role and use of its powers. It also needs to be read against a challenging economic and geopolitical background.

The Strategy sets out 4 priorities:

• Be a smarter regulator

• Support sustained economic growth

• Help consumers navigate their financial lives

• Fight financial crime. 

At the same time that the Strategy was published, the FCA published its Feedback Statement on 'Immediate areas for action', highlighting proposals to further roll out the outcomes-based approach to regulation under the Consumer Duty, where there is an immediate focus on upcoming actions for mortgages and consumer finance. We will consider what this may mean for affected firms.