The Financial Conduct Authority (FCA) has reformed the way it makes critical regulatory decisions in a bid to be more effective and efficient in stopping harm to consumers and markets.
The new approach, which will be effective from Friday (26 Nov), transfers some decision-making on statutory notices from the FCA's Regulatory Decisions Committee (RDC) to senior members of the body under the Executive Procedures, which the FCA said would free up the RDC to focus on contentious enforcement cases. This places a greater degree of responsibility and accountability with the senior FCA staff, rather than RDC, to decide on the following: a firm's authorisation or an individual's approval action in straightforward cases to cancel a firm's permissions and that action is c...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
