On 2 July 2015, the UK’s financial regulatory, the Financial Conduct Authority (FCA), published its annual report and accounts 2014/15.
Overview The annual report highlighted several areas in which the FCA has been active over the past 12 months, including:
- The use by the FCA of its new consumer credit powers
- The launch of ‘Project Innovate’ to encourage innovation in the financial services sector
- The FCA review into competition in the wholesale market
- Working towards the implementation of the Senior Managers Regime
- The publication of the FCA’s cash savings and retirement income market studies
- Implementing the new pension reforms
- Enforcement action, especially in relation to LIBOR and FX
- Responding to the findings of the Davis Review into the FCA’s own handling of the launch of its 2014/15 business plan
Click here to read the full issued Client Alert.