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ARTICLE · 11 APRIL 2018

The FS Express – April 2018

Pinsent Masons
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The FCA is taking a forward-looking and pre-emptive approach to address risk and associated risk of harm.

United KingdomFinance and Banking
Michael Ruck
Michael Ruck
Elena Elia
Elena Elia

A quick guide to the FCA's new approach

FCA has published its Approach to Supervision and its Approach to Enforcement

  • The FCA has published a series of documents articulating how it carries out its main activities and its thought and decision-making processes with transparency.

Approach to Supervision

  • This defines supervision as the continuing oversight of firms/ individuals to reduce harm to consumers and markets.
  • The FCA is taking a forward-looking and pre-emptive approach to address risk and associated risk of harm.
  • A proportionate and risk-based approach will be implemented to target firms where misconduct would cause the most harm.
  • Focus is on culture and governance; the firm's purpose, attitude, behaviour, competence and compliance of firm leadership, and controls and key processes.

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