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 ...
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