Context
The FCA has updated its Statutory Panels web page adding links to letters outlining the areas the FCA expects to prioritise when engaging with the five panels and one Advisory Board for 2024/25. One of the letters is to Matt Hammerstein, Chair of the FCA Practitioner Panel, details of which are set out below.
Key points to note and next actions
Subject to unforeseen events during the year, the FCA has highlighted the policy and operational areas it wishes engagement to be prioritised as:
- Identification of priorities for the FCA, in line with its statutory objectives and views on how to balance those objectives
- Highlight emerging risks/issues in industry especially those relevant to the statutory objectives
- Implementation of the Consumer Duty including the outcomes-based approach and any unintended consequences
- Managing the opportunities and risks of data and digitalisation, including artificial intelligence