FCA wants most successful firms to be those best at TCF

clock

The Financial Conduct Authority (FCA), one of the regulators due to replace the Financial Services Authority (FSA) next year, aims to develop a financial services market where the most successful firms are those that respond best to the needs of their customers.

The FCA is set to be given a new objective by the government to "promote effective competition in the interests of consumers" from next year. In a wide-ranging speech at an Association of British Insurers event today, Martin Wheatley, the CEO-designate of the FCA, said the regulator was in the process of thinking through what its role would be, but said it would concentrate on four outcomes: firms competing for business by offering better services, better value and the types of products their clients want and need no firms sustaining excess profits firms innovating and d...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA sets out plans to simplify complaints regime

FCA sets out plans to simplify complaints regime

Including requirement for firms to report complaints involving vulnerable clients

Isabel Baxter
clock 04 December 2025 • 2 min read
FCA looks to boost transparency of ESG ratings providers

FCA looks to boost transparency of ESG ratings providers

Regulator opens consultation

Michael Nelson
clock 01 December 2025 • 2 min read
Regulators urged to hold pension transfer 'bad actors' to account

Regulators urged to hold pension transfer 'bad actors' to account

Advisers report ‘widespread and sometimes extreme delays’

Sahar Nazir
clock 24 November 2025 • 5 min read