Thursday 25 July 2013

UK: FCA sets out how it intends to meet its operational objectives

Section 6 of the Financial Services Act 2012 made changes to the Financial Services and Markets Act 2000 in order to create the UK's new financial regulatory framework. Included were the following operational objectives for the new Financial Conduct Authority: securing an appropriate degree of protection for consumers; protecting and enhancing the integrity of the UK financial system; and promoting effective competition in the interests of consumers in the relevant markets. How the FCA proposes to meet these operational objectives is the subject of guidance published yesterday for consultation: see here (pdf).

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