Context
The FCA has announced the publication of its 2022/23 Annual Report and Accounts, alongside a raft of associated documents and reports. The Annual Report and Accounts sets out the FCA’s progress in the first year of its three-year strategy. The announcement includes details of the publication of a long list of associated reports and documents, the more relevant of which are set out below.
Key points to note
- FCA outcomes and metrics report: sets out a commitment to be clear about how the FCA is accountable for its progress, sets out which outcomes matter to the FCA and the metrics it will use to measure its progress against them.
- Diversity, equity and inclusion update: information about the FCA’s DE&I priorities.
- FCA and Practitioner Panel survey findings: the survey report shows a minor overall decrease in satisfaction with the FCA as a regulator.
- FCA operating service metrics 2022/23: part of the FCA’s ongoing assessment of its performance against 54 operating service metrics to hold itself to account. In 2022/23 we achieved or exceeded the targets set for 37 of the 54 standards we measure. This is a ‘significant improvement’ (according to the FCA) on 2021/22 when it achieved or exceeded half of the targets.
- FCA Positive Impact report 2023: the FCA demonstrating the value it adds through its activities.
- FCA Prescribed Persons (Whistleblowers) Annual report 2022/23: providing some metrics in relation to the 1,086 whistleblowing reports the FCA received in its last financial year (compared to 1,041, 1,046 and 1,153 in the previous three financial years).
- FCA interventions update: detailing how the FCA has reduced harm, including by stopping 627 firms from operating, as they failed to meet minimum standards.
Next actions
None – for information and awareness.