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ARTICLE · 02 NOVEMBER 2016

FCA Publishes "New" Mission Statement

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The aim of the publication is to "establish a set of guiding principles" that explain how the FCA pursues its strategic and operational objectives and decides on its priorities and the tools used to deliver them.

United KingdomCorporate/Commercial Law
Helen Marshall
Helen Marshall
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On 26 October 2016, the FCA published a Mission Statement titled “Our Future Mission”. The aim of the publication is to “establish a set of guiding principles” that explain how the FCA pursues its strategic and operational objectives and decides on its priorities and the tools used to deliver them. Although not a formal consultation paper, the FCA has sought comments on the Mission Statement by 26 January 2017. It is anticipated that it will use the Mission Statement as guidance in its next Business Plan.

The FCA Mission Statement

Ensuring that markets function well

The FCA accepts that it is not possible to create markets and firms that never fail. It plans to ensure that it applies a combination of forward-looking judgement in Supervision and backward-looking judgement in Enforcement where rules have been breached. When failures occur, they should be orderly and not undermine the FCA’s statutory objectives. The FCA’s preference is to use its competition policy

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