Listen up Wheatley! Firms' wishlist for the FCA

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...