FCA Business Plan for 2018/19
The UK Financial Conduct Authority’s (FCA) priorities for the year reflect the high level of resource needed for Brexit, given its impact on regulation and financial services. In addition, the FCA will focus on seven cross-sector priority areas:
- 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;
- The treatment of existing customers;
- Long-term savings, pensions and intergenerational differences.
The FCA has also published its second annual ‘Sector Views’, which provide a snapshot of how each sector in the financial system is performing. The FCA’s Business Plan can be viewed at: bit.ly/2qmg4jR and ‘Sector Views’ at: bit.ly/2qDk53r
The Treasury Select Committee has published its report on the Solvency II Directive – the harmonised EU-wide insurance regulatory scheme.
Measures to change the way compensation payouts are calculated have been unveiled by Lord Chancellor David Lidington.
Sam Woods,deputy governor for prudential regulation and CEO of the PRA, has sent a letter concerning contingency planning to the CEOs and Branch Managers of banks