Context
The FCA has published a speech, delivered online by Emily Shepperd, Chief Operating Officer and Executive Director of Authorisations, to the Westminster Business Forum.
Key points to note
The key messages were:
- Regulations such as the Consumer Duty and the FCA’s proposals for ESG are designed to meet the evolving demands of markets and consumers.
- Firms should ask tough questions when assessing fitness and propriety of staff in financial services.
- Culture is crucial for confidence and can dictate bottom lines.
The speech covered a number of issues under headings which included:
· Purpose underpins culture
· Consumer duty changes culture
· FCA’s evolving culture
· Stopping repeat recruitment of bad apples
· On a recruitment roll
Next actions
None – for information and awareness.