Context
A joint FCA and Practitioner Panel survey is being sent to a sample of regulated firms, to gather feedback on how the FCA is doing in regulating the industry. On the FCA’s behalf, the survey will be carried out by Verian (formerly known as Kantar Public), an independent social research organisation.
Key points to note and next actions
The FCA will use the survey results to better understand issues affecting firms and to assess any changes that will be considered by the FCA, as part of becoming a more innovative, assertive, and adaptive regulator. In response to last year’s survey:
- The FCA is improving its authorisations performance and processing times for firms. The FCA published a report on their authorisations metrics from July 2023 to September 2023.
- A new Cost Benefit Analysis Panel will provide advice on the FCA’s cost benefit analysis, using firm feedback that is collected as part of its impact evaluation work, which will help ensure that the FCA act proportionately when introducing new policies.