Listen up Wheatley! Firms' wishlist for the FCA

Laura Miller
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The Financial Services Practitioner Panel (FSPP) asked firms what single message they would deliver to the board of the Financial Conduct Authority (FCA) - and the over-riding plea is for fairness.

Firsly firms want proportionate treatment. This means regulation that matches risk, including differentiation between small and large firms. There were also calls for a balance of responsibility for risk between providers and consumers, and a move away from a "one size fits all" approach. Proactivity was next on the wishlist, with a preference among firms for the regulator to act sooner on issues rather than wait until something like mis-selling happens. Firms also want the FCA to investigate problems and do more research to ensure it is fully aware of the implications of its actio...

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