The Financial Conduct Authority has set out a three-year strategy to improve outcomes for consumers while saying it would publish and hold itself accountable against outcomes and performance metrics.
The regulator said its three-year strategy would prioritise resources to prevent serious harm, set higher standards and promote competition. A key strategy within the plan, the watchdog said, would be to shut down problem firms that do not meet basic regulatory standards and is recruiting 80 employees to help it protect consumers from "potential fraud, poor treatment and [to] create a better market". For every £1 spent on its operations, the regulator said it has calculated it would benefit consumers and small businesses by "at least" £11. One specific measure the FCA laid out in ...
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