Vida FatemiFCA and Practitioner Panel will send a survey to a sample of regulated firms to get feedback on how well FCA is regulating the industry. The survey will go to all fixed firms and to an increased sample of 25,000 flexible firms.
FCA will use the results to better understand issues affecting firms and to assess changes that should be made to its approach. The results will be published in summer 2024.
Following last year’s survey, FCA is taking actions including:
- improving the Authorisations performance and processing times for firms;
- introducing a new Cost Benefit Analysis Panel in 2024 to advise on FCA’s cost/benefit analysis;
- ensuring more opportunities for FinTech and RegTech to be supported through FCA’s innovation services; and
- seeking feedback on firm data requests, including how long they take to complete and any associated incurred costs.