FCA publishes Business Plan

FCA has published its Business Plan for 2023/24. It plans to accelerate its work in 4 areas:

  • putting consumers’ needs first;
  • preparing financial services for the future;
  • strengthening the UK’s position in wholesale global markets; and
  • reducing and preventing financial crime.

It will use its 3 strategic themes of:

  • reducing and preventing serious harm;
  • setting and testing higher standards; and
  • promoting competition and positive change

to drive these forward, and its specific plans include

  • dealing with problem firms
  • reducing harm from firm failure
  • improving oversight of ARs
  • minimising the impact of operational disruptions
  • shaping digital markets and
  • an ESG strategy

The plan notes the particular challenges and uncertainties of the coming year, in terms of markets, the cost of living and its own resourcing.  In relation to each key areas of the plan, it sets out its intentions for initiatives it wants both to start and to continue.

Emma Radmore