Laura WilesIn a letter to the Treasury Committee, FCA has set out its work on establishing the new CBA panel and publishing a statement of policy on its approach to CBA, as required by FSMA 2023.
In June, the Committee sent a letter to FCA seeking detail on its proposed timings and approach to these requirements. In its response, FCA confirms that it started recruiting for the Panel in May, and expects to have appointments in place to make it operational by the end of 2023. After consultation with the Panel on the preparation of CBAs and the related statement of policy, FCA expects to put the statement of policy out to public consultation in early 2024.