What the supervision shift means for your firm

A year on from its inception, the Financial Conduct Authority (FCA) has, at long last, set out its approach to supervision for firms in a clear, single document. Firms will no doubt now be feeling a little more certain about the way in which they will be supervised, with the FCA confirming what has already been postulated by many in recent months. The regulator has stressed that it is moving away from a ‘tick-box' compliance mentality, to one centered around culture and consumer outcomes. This means firms will need to place a greater emphasis on gathering meaningful information that evid...