The Financial Conduct Authority has published its approach to supervision.
The Approach to Supervision and feedback statement explains the FCA’s purpose of, and the approach to, supervising firms and individuals and the public value it delivers.
The document sets out:
• Chapter 1 – Why the FCA supervise
• Chapter 2 – FCA’s supervisory principles
• Chapter 3 – FCA’s priorities and focus
Business models, culture and individuals, and prudential supervision are key areas of focus in the FCA’s supervisory approach.
• Chapter 4 – How the FCA supervise
To help the FCA uses the regulatory tools efficiently and cost-effectively, they have a decision-making framework which includes identification of harm, diagnostic tools, remedy tools and evaluation.
• Annex 1 – Feedback Statement for the FCA’s Approach to Supervision consultation
• Annex 2 – Firm Assessment Model
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Please Note: This publication is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Readers should take legal advice before applying the information contained in this publication to specific issues or transactions.