Context
The FCA has set out in its Annual Report how it has worked over the past 12 months to meet its objectives of protecting consumers, enhancing market integrity and promoting competition.
Key points to note
The report is split into four sections:
- An introductory section which includes a foreword from the Interim Chair Richard Lloyd and introduction from CEO Nikhil Rathi
- Strategic report
- Financial Statements and corporate governance
- Appendices
Some highlights of the report include:
- During the period the FCA undertook work in relation to credit card debt (which enabled consumers to pay less interest), changed insurance rules to stop firms price walking loyal customers, carried out its first ever criminal prosecution under anti-money laundering legislation, opened the Regulatory Sandbox year-round and worked on an updated listing regime. The report also makes reference to the new approach, which will include the new Consumer Duty.
The FCA has also published its Diversity Annual Report which is split into seven sections:
- Foreword
- Our approach to Diversity & Inclusion (D&I) and our D&I strategy
- Reflecting the society we serve
- Inclusive culture
- Consumer focus
- Our role as a regulator
- Workplace profile and network groups
Next actions
None – for information and awareness.