FCA reacts to Mansion House speech

The FCA has reacted to several announcements from the Mansion House speech. It has reiterated that it is committed to supporting growth and says it has fully embraced its secondary international competitiveness and growth objective and has embedded it into its processes, policy making and culture. It comments on:

• its reform of UK listing rules;
• its work on the development of the PISCES platform which will allow private companies to trade their securities (and on which the Treasury is consulting);
• the greater freedoms asset managers now have in paying for research and the work it is doing to streamline alternative asset management rules;
• the introduction of its new wholesale firm pre-application support process;
• ESG ratings – it has welcomed its upcoming role;
• the Advice Guidance Boundary Review – where it has announced its next steps;
• the National Payment Strategy – where it welcomed the publication of the National Payment Vision, committed to work with the PSR on open banking and welcomed the clear focus on tackling financial crime;
• Modernising the redress system – with its joint call for input with the FOS ;
• improvements in its authorisation operating metrics;
• its innovation services; and
• its plans to streamline the Handbook.