Background
On 21st June we hosted a webinar 'The transformed FCA: what has changed about the way the regulator interacts with firms?'. In this webinar, which followed on from our series examining The FCA and its ‘Transformation Programme’, we supplied a cross-sector review of what the FCA's transformation has meant for firms in real terms.
The FCA's ‘Transformation Programme’ was put in place to make changes internally and ultimately promised to raise standards with a more intensive assessment and greater scrutiny of firms’ financials and business models. For example, we have seen an increasing level of information and data requests as well as an increase in Dear CEO letters.
During the webinar, our panel of experts provided examples of the type of data the FCA has been requesting, what its expectations are from firms, and what firms can do to both prepare, and respond, should an FCA request for information be received. To access a recording of this session click the button below.
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Agenda
Welcome
The Transformed FCA
- How have Authorisations and Supervision ‘transformed’ and what is the impact for firms?
- What does data tell us about the FCA’s direction of travel?
FCA’s interactions with firms
- Examples of new information and data requests
- What is the FCA hoping to achieve?
- How is the current market climate influencing interactions?
The implications for firms
- How should firms approach a request from the FCA?
- What can firms do to prepare ahead of time?
- Which firms are likely to be subject to a full review?
Conclusion
- Key takeaways for firms to ensure they are prepared should the FCA request information, pay a visit, or make a call
Panel discussion/Q&A
Speakers and Panelists
- James Borley, Managing Director, Payment Services
- Ben Antcliffe, Associate Director, Consumer Credit & Lending
- Will Khammo, Senior Consultant, Insurance
- Stefan Babic, Associate Director, Prudential Services
- Maurice McDonald, Director, Wealth Management
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Related resources
All resources
Webinar: Immediate Consumer Duty priorities and how to achieve customer understanding
The FCA publishes its proposals on research payment optionality, but with “guardrails”
Which regulatory areas does the FCA’s “Dear CEO” letter on supervisory strategy for asset managers and alternatives specifically target?
More time for payment service providers to investigate suspected fraud