The FCA and the Practitioner Panel have published a report setting out the findings of their joint survey of FCA regulated firms. The survey itself enabled firms across the financial services sector to express their views on the FCA as a regulator.
The report identified 4 key priorities for the FCA in order to improve firm satisfaction:
- act proportionately so that costs are proportionate to benefits gained;
- be more forward looking in its regulation;
- improve its method for identifying emerging risks; and
- prioritise the right risks against which to take action.
The FCA will use the results to understand issues affecting firms as a collective, and to drive improvements in its operations.