FCA speaks on encouraging investment

Sarah Pritchard has spoken on the role of regulation in encouraging investment in the City. She noted that proportionate regulation and a debate around risk appetite are key considerations in the review of financial services rules post-Brexit. She said that market confidence is key to a thriving market, and that integrity and transparency are key to confidence. Taking action against fraudsters, encouraging competition and confidence in the regulatory system are all also factors.

She discussed the upcoming reform of the UK listing regime, and the need for a discussion on the impact of the differences in regulatory protections the UK provides as opposed to other major markets.

She highlighted the new powers under FSMA 2023 to designate critical third parties and said the regulators propose to confirm before the end of the year how they will do this.

She also spoke on the empowerment of consumers through the advice and guidance boundary review, which she hoped will help consumer understanding.

Finally, she spoke on the ongoing importance of innovation, the FCA’s Digital Sandbox and work it is carrying out to implement the intermittent trading venue.