The UK’s Financial Conduct Authority (FCA) has published its 2024/25 business plan, setting out its priorities for the next 12 months. With 13 commitments focused on reducing and preventing financial crime, putting consumer needs first and strengthening the UK's position in global wholesale markets, the FCA has committed, among other commitments, to: doing.
- Leverage and expand information and data collection systems to target high-risk companies and activities, reduce fraud growth, and combat financial crime.
- We put consumer needs first and test how value is disclosed and delivered, such as unit-linked pensions and long-term savings products. It is clear that ongoing oversight efforts to test the implementation of consumer obligations will play a major role in achieving this commitment.
- By supporting efforts to introduce T+1 payments and deliver the FCA's primary market policy reforms, we will encourage innovation and market development and strengthen the UK's position in global wholesale markets. It is also important to continue working to reform the regime governing payments for research, review and reform the listing regime, and prepare the market for the introduction of new derivatives reporting rules under the UK's EMIR.
The business plan also sets out an extensive budget, and among the headings of 'exceptional projects' are smart regulatory initiatives as the FCA continues its work to repeal and replace EU law with robust FCA rules. £11.3 million is included for the implementation of the framework.
