17 May 2018

The FCA’s 2018/19 business plan

The FCA's business plan for 2018/19 sets out the key areas of concern and priorities for the coming year in line with its Mission Statement and objectives.

On 9 April, the FCA published their Business Plan for 2018/19. This is an important and useful document as it sets out the key areas of concern and the FCA’s priorities for the coming year in line with its Mission Statement and operational objectives.

Brexit is regarded as the most impactful event on the UK financial sector and one of the main areas of focus for the FCA, who is working towards operational readiness ahead of the transition.

Amongst the cross-sector priorities are a number of recurring themes including culture and governance (ahead of the extension of the SM&CR to all firms) and the prevention of financial crime with particular focus on cybercrime, fraud and scams.

There are also a few new sector-specific priorities in the plan, most of which were prompted by the quick technological evolution in industry, the appearance of innovative business models and recent legislation around payment services, data protection and cybersecurity.

All firms should take account of the FCA’s Business Plan as it identifies common issues for both consumers and firms, but also proposes remedial measures to overcome those issues, that all operators in industry can benefit from.

Please read more in our factsheet here.

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