On 8 May 2019, the FCA published a speech by Christopher Woolard (Executive Director of Strategy and Competition, FCA) entitled Financial conduct regulation in a restless world. In his speech Mr Woolard discusses the FCA’s Business Plan and its priorities for the coming year.
Key points in the speech include:
- from culture to fraud, market abuse to mis-selling, there are a number of priorities that are guaranteed a place in the Business Plan, even as other themes and issues vie for the FCA’s attention;
- the FCA wants to explore not only how technology can drive new products, services and firms in consumers’ interests, but also what it can do to reduce the compliance burden of existing ones and make them more effective; and
- as a regulator operating in the public interest, the FCA has to adapt to ensure that regulation meets the changing needs of the people it’s there to protect.
In relation to Brexit, Mr Woolard states that international engagement will remain a cornerstone of the FCA’s work. He adds, that post-Brexit the FCA will look to strengthen this by building strong bilateral relationships with regulatory partners and international standard setters.