Out With The Old…
Further information provided ahead of cut-over to FCA on 1 April
Status Disclosure
New status disclosure requirements for FCA cut-over
FCA Business Plan
Reiterates more ‘proactive’ approach and highlights areas of interest such as conflicts and corporate access
FCA Risk Outlook
Priority risks include design of certain products and services, lack of oversight of distribution channels and poor understanding of risk and return
Supervision under the FCA
Shift from a proactive to a forward-looking regulator
Regulatory Reform
FSA consultation paper on procedural and Handbook changes which firms may wish to note
The Approach of the FCA
FSA paper indicates greater focus on wholesale conduct, enforcement and intervention under new regime
UK regulatory reform
FSA to be broken up