Regulation

Many firms had taken positive action but ‘areas for improvement remain’

Beauchamp served as interim CEO from October 2023

Regulator finds 10% of sampled firms may not have adequate cover in place

Regulator recognises the sector has been ‘growing at pace’

FCA urged to adopt a 'more principled and realistic approach'

‘We’re not deleting evidence or hiding information’

Intends to publish response later this year

Nearly double the amount in 2023

Report concluded that this is ‘not the way to regulate’

‘FCA Firm Checker’ is live for small number of users