FCA shakes-up decision-making procedures in efficiency push

FCA efficiency drive

Jenna Brown
clock • 2 min read

The Financial Conduct Authority (FCA) wants to change the way the organisation makes critical regulatory decisions in a bid to make it faster and more efficient.

In a consultation released today (29 July), the body outlined its plans to shift certain decision-making responsibilities from its Regulatory Decisions Committee (RDC) to the FCA's authorisations, supervision and enforcement divisions. It said the changes would improve how it "tackles firms and individuals who do not meet the required standards". The shift would give greater responsibility for decisions on things such as starting civil or criminal proceedings to senior FCA staff members. The shake-up is part of the FCA's wider transformation project. It said changes proposed would ...

To continue reading this article...

Join Professional Adviser

  • 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

Simplified advice regime will boost financial resilience

Simplified advice regime will boost financial resilience

'What's been tabled will help to ease the nation's cash obsession'

David Tiller
clock 01 December 2022 • 3 min read
FCA moves to create simplified financial advice regime

FCA moves to create simplified financial advice regime

‘Proportionate qualifications to keep costs lower’

Jenna Brown
clock 30 November 2022 • 7 min read
Consumer Duty rules define 5.6 million as ‘vulnerable investors’

Consumer Duty rules define 5.6 million as 'vulnerable investors'

Health, life events and financial resilience play a factor

Jenna Brown
clock 30 November 2022 • 1 min read