The Financial Conduct Authority has set out its business plan for the next twelve months, which outlines additional investment into key areas such as the new future regulatory framework and Consumer Duty.
Building up on its three-year strategy announced in April last year, the regulator has decided to invest further in its most critical commitments over the coming year. The first commitment, ‘Preparing financial services for the future', will entail working with the Treasury to implement the new regulatory framework. The FCA expects to invest £12.7m in 2023/2024 to implement the reforms. Following the UK's withdrawal from the EU, the government is adapting the UK's framework for financial services regulation, which will give the FCA a new secondary objective to facilitate the internat...
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