Long-term savings and pension firms are least satisfied with the Financial Conduct Authority (FCA) and also most likely to feel their trust has decreased in the regulator, according to the FCA Practitioner Panel's annual survey.
The sector's satisfaction with the regulator scored 6.9 out of 10, compared with 7.4 and 7.3 in the wholesale banking and capital markets sectors respectively. That said, overall satisfaction with the FCA increased from 7.1 on average last year to 7.2 this year, the survey found. As well as the comparatively low satisfaction rating, one in 10 long-term savings and pensions firms said their trust in the FCA has decreased. On top of that, half (51%) of firms in the pensions sector felt regulation had reduced the type of business they conducted, and almost as many (47%) felt the level of re...
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