Context
Now to be updated once a quarter (previously annually) the FCA’s Perimeter Report sets out what the FCA does and does not regulate, describing specific issues and the action that is taken in response. References are made to the FCA’s ongoing work in relation to Appointed Representatives, acknowledging HM Treasury’s review of the regime. Reference is also made to the insurance perimeter (what might or might not be a contract of insurance) and the consumer credit perimeter (the FCA’s and the Treasury’s current focus on short term interest free credit, in all its various guises, including what the Treasury and the FCA are referring to as ‘buy now pay later’ credit). Both the insurance and consumer credit issues have featured in previous Perimeter Reports.
Key points to note
The report is split into nine sections:
- What we regulate
- Harm linked to the Perimeter
- Our general approach to the Perimeter
- Our challenges
- Firm business models
- Lending
- Consumer investments
- Technological challenges
- Wholesale markets
Next actions
Whilst we cannot see any particularly new information from the previous report, we have included this item for information and awareness.