The FCA has published its work programme for 2026/27 together with its perimeter report. The plans stress the FCA’s drive to be a smarter, more data driven regulator, and include detail on how it will use AI to speed up authorisations and identify key risks earlier.
With AI at its heart, the FCA also plans to use generative AI to help it modernise regulation, streamline supervision and generally reduce unnecessary administrative burdens.
All this, it says, means it is proposing the lowest fee risk since 2017/18, or only 1% increase in minimum and flat fees.
Among key initiatives are:
- consolidating the work of the PSR within the FCA;
- preparing for AML supervisory reform;
- finalising its motor finance redress approach;
- building regulatory readiness for quantum computing;
- simplifying the authorisation process further;
- removing 3 more data returns and reducing the frequency of another;
- continuing to simplify rules where it can;
- consulting on the pension charge cap;
- driving forward more proportionate rules for AIFMs;
- reforming capital requirements for solo-regulated firms;
- working to identify and address barriers to scaling finance for climate solutions;
- being clearer on where the Consumer Duty does not apply;
- developing the open banking long term framework;
- developing the proposed provisional licence regime and making it easier for innovative firms to scale and grow;
- improving exports and inward investment;
- giving customers more positive outcomes from engaging with financial services; and
- bringing forward more proposals to expand market access to mortgages.