What happened?
Building on the priorities outlined in its Strategy 2022-2025, the FCA’s latest Business Plan reiterated its commitment to improving customer outcomes, pledging a host of new, more stringent requirements for regulated firms over the coming financial year.
In Money Marketing, TCC Senior Regulatory Consultant Andy Fouracres examined the top three areas these standard-raising initiatives are set to focus on.
Why does it matter?
Firms that understand where the FCA’s attention is heading can take proactive steps to meet new obligations ahead of time, rather than reacting once requirements are already in force.
Supporting sources
Frequently asked questions
What did the FCA's latest Business Plan set out?
It reiterated the regulator’s commitment to improving customer outcomes and pledged more stringent requirements for regulated firms over the coming financial year, building on its Strategy 2022-2025.
Which firms does this affect?
Regulated firms across banking, payments, wealth management, general insurance and lending, wherever the FCA’s standard-raising initiatives apply.
How can firms prepare?
By identifying where the FCA’s Business Plan priorities fall within their business and taking proactive steps ahead of the new requirements coming into force.
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