FCA Business Plan Slides For Print
FCA Business Plan Slides For Print
FCA Business Plan Slides For Print
Our People
FCA continuing drive for cultural and technical diversity
FCA Priorities for 2016/2017 Overview
Pensions
Advice
Wholesale financial markets:
Desired Outcomes
Risks Outcomes
- Volatility and Uncertainty - Increased confidence in
impacting investor confidence wholesale financial markets
Risks Outcomes
- Poor Culture in Firms - Firms Develop Culture of
accountability
- Strategy and Governance not
aligning with values and conduct - Firms and senior members
aware of good conduct
- Incentive structures lead to
poor behaviour (Conduct Risk) - All business areas align with
good Firm culture
- Weak Governance and lack of
accountability create poor - Proactive analysis of Firms
oversight issues
Firms culture and governance
Achieving Outcomes
Risks Outcomes
- Technology application limited by - Regulation allows and
system vulnerability encourages innovation
Keeping
up to date
Encouraging
Innovation and
new competition
Risk Based Approach to Combat
Cyber Crime
Treatment of existing customers:
Desired Outcomes
Risks Outcomes
- Tough economy leading to - More information and
disadvantaged consumers transparency for Consumers
Risks Outcomes
- Aging Population - Increased competition
- High cost and uncapped and innovation
fees - Better value for money
- Resorting to alternative - Appropriate Advice
investments - Educating Consumers
- Struggle to contribute to - Protection from scams
pensions
Pensions: How to Achieve Outcomes?
Retirement
Outcomes
Review
Policy Statement
on Oct 2015 Early Exit
changes Charges Cap
Independent
Secondary Market
Governance
in annuities
Committees review
Crack
down on
scams
Key focus areas
Advice
Financial Crime:
Desired Outcomes
Risks Outcomes
- Tweaking risk criteria to - Create hostile sector for
achieve profit and growth money launderers
- Reduce Scams
Key Risk: Proportionality
Q2/Q3 2016
Consultation
Paper issued by
HM Treasury
detailing the
proposed Q1 2017
amendments to Guidance
current legislation finalised
Affordability
advice more cost effective for the mass market
automated advice models
technological development
Accessibility
clear definition of regulated advice (personal recommendation)
tackle barriers preventing consumers from seeking advice
employers to provide advice on financial planning
Redress
increase consumers confidence in regulatory system
confirm liability of firms when giving wrong advice
increased transparency of how FOS reviews complaints
recommendations to FSCS
FAMR FCA Recommendations
Questions?
Helping to keep you up-to-date