Context
Charles Randell, Chair of the FCA and PSR (Payment Systems Regulator), gave a speech to the Finance & Leasing Association.
Key points to note
- In his speech Charles Randell noted that:
- To be effective in the new world of financial services which Coronavirus has brought forward, the FCA must enforce the gateway to authorisation; focus on the basics; focus on outcomes; and use the rulebook better and faster
- The FCA must reshape itself, and that this transformation is under way
- To make the transformation last, the FCA must state clearly the outcomes it wants, measure these outcomes and be transparent about whether they have been achieved
Next actions
None – for information only