Industry calls for 'sense of direction' from regulator

FCA's 'mission' consultation reveals

Tom Ellis
clock • 1 min read

One of the industry's most popular responses to the regulator's consultation on its 'mission' is a desire for a sense of direction and clarity, the Financial Conduct Authority (FCA) has revealed.

In full, the four main themes the FCA has said respondents want to see are: a desire for clarity and sense of direction from the regulator; more protection for vulnerable consumers; more clarity on existing rules, or, altnernatively, a clear set of principles rather than prescriptive rules; and more engagement between regulators and firms on sharing lessons learned and good practice. The FCA added: "Respondents are keen on a clearer rationale for our decisions - what we choose to do and not to do. Some respondents are keen on clear sets of principles for business rather than prescriptive...

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