’We are ambitious for the future and committed to enabling a fair and thriving financial services market for the good of consumers and the economy,’ says chief executive
The FCA has revealed its priorities for 2025 to 2030 as it unveiled its new five-year strategy.
The regulator said the strategy aims to “deepen trust, rebalance risk, support growth and improve lives”.
Its four priorities during the next five years include being a smarter regulator, supporting sustained economic growth, helping consumers navigate their financial lives and fighting financial crime.
Ashley Alder, chair at the FCA, said: “We want to deepen trust in financial services and shift our collective attitude across financial services to risk.
“Too often the focus has been on the risks of a decision taken rather than the lost opportunity of taking none. We want to change that so we can spur growth and improve lives.”
The four priorities are:
- Be a smarter regulator - predictable, purposeful and proportionate. The FCA will improve its processes and embrace technology to become more efficient and effective.
- Support sustained economic growth, by enabling investment, innovation and ensuring the continued competitiveness of the UK’s world-leading financial services.
- Help consumers navigate their financial lives by working with industry to boost trust, product innovation and ensuring the right information and support is available for people to take financial decisions.
- Fight financial crime, focusing on those who seek to use the fact they are regulated to do harm. It will go further to disrupt criminals and support firms to be an effective line of defence.
Promises
The strategy also states that the FCA will take “a less intensive approach for those firms seeking to do the right thing, significantly streamlining how it sets its supervisory priorities and reviewing whether it can stop requiring certain data returns”.
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The regulator also plans to digitise and simplify the authorisation processes, as well as invest in its technology, people and systems.
Nikhil Rathi, chief executive at the FCA, said: “Our last strategy set high standards and bolstered our operational effectiveness. We are committed to going much further, delivering at pace to meet the scale of change we are facing over the next five years.
“This strategy sets out our priorities, how we’ll become more efficient and effective and make the choices that shape the financial system.
“We are ambitious for the future and committed to enabling a fair and thriving financial services market for the good of consumers and the economy.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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