FCA to focus on Brexit as it releases business plan

The main priorities in the FCA's latest business plan will focus on the high level of resource the regulator needs to dedicate to the European Union withdrawal.

The regulator’s business plan for 2018/19 is based on assessments of where there is the greatest harm or potential to harm, and where intervention can have the greatest impact.

The FCA will focus on seven cross sector priority areas, which are:

  • the culture and governance of firms
  • the impact of high-cost credit
  • tackling financial crime, including fraud, scams and anti-money laundering
  • data security, resilience and outsourcing
  • innovation, big data, technology and competition
  • the treatment of existing customers
  • long-term savings, pensions and intergenerational differences.

Andrew Bailey, chief executive at the FCA, said: “The business plan is an important way in which we are transparent about our priorities for the year.

“We recognise that this year we need to dedicate a significant amount of resource to withdrawal from the EU.

“As a result, setting our priorities this year has involved a particularly rigorous level of scrutiny and challenge to focus on areas where we see the greatest potential for harm.”

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