Charles Randell, FCA and PSR Chair, has delivered a speech on regulating finance for the whole of the UK. Highlights include:
- Importance of partnerships and policy coherence – the FCA recognises the continued importance of partnering with a range of other actors in the sector, including the government and other regulators and public bodies. Such partnerships are effective in promoting the understanding of financial decisions, addressing digital exclusion and fighting financial crime. Mr Randell highlighted crypto as a challenge which demands a well-functioning partnership between government and regulators.
- Future Regulatory Framework – Mr Randell shared his thoughts on the Financial Services and Markets Bill and how to ensure it meets its aims, for instance the growth and competitiveness objective. He also expressed concern with the proposed new powers for the government to intervene in the FCA’s processes.