
Our focus areas for the year ahead take into account the external environment and new regulatory frameworks. These are based on this being the final year of our three-year strategy.
Consumer protection: We continue to test higher standards through the incorporation of consumer obligations. Through our work to redefine the boundaries of advice and guidance, we strive to support the long-term financial health of consumers and unlock innovation in the personal investment market. We will work with our regulatory partners to ensure that our pension products offer value for money. We also work to give consumers better access to pensions. We continue to develop the use of artificial intelligence (AI) to improve the experience for consumers and businesses when they contact us, and to prevent fraud and fraud.
Ensuring market integrity: We monitor market risks and take action when necessary. We will finally complete extensive capital market reforms. We will continue to lead the discussion on how the right form of regulation can support the growth of the UK market, given the many important policy changes that are under consultation or close to being discussed. We will continue to invest in data and technology to support our rigorous market surveillance.
Promoting effective competition: We will continue to foster competition and innovation to deliver positive outcomes for consumers. We identify where more effective competition can better deliver fair value outcomes under consumer obligations. We will continue to focus on market reforms that deliver the benefits of innovation and digitization.
Our second international competitiveness and growth goal: We will focus on incorporating the secondary objective of promoting the international competitiveness of the UK economy. Enabling productivity drivers drives medium- to long-term growth and competitiveness in a way that ensures better outcomes for all consumers, including through increased variety, price, and quality of products and services. can.
We want to improve the attractiveness and global reach of the UK wholesale market. We will provide opportunities for financial services businesses to invest, innovate and expand in the UK through our Sandbox and Innovation Pathways, our TechSprint program and our leadership in the Global Financial Innovation Network. We will continue to make it faster and easier for businesses and people to apply for approval, and we will continue to enhance our data collection process to reduce the burden on businesses.