The UK Financial Conduct Authority (FCA) has outlined its new five-year strategy to “deepen trust, rebalance risk, support growth, and improve lives”, according to the regulator.
The FCA lists its four core priorities as becoming a “smarter regulator”, supporting “sustained economic growth”, helping consumers “navigate their financial lives”, and tackling financial crime.
The initiative aims to make the body more efficient by “taking a less intensive approach for those firms seeking to do the right thing, significantly streamlining how it sets its supervisory priorities, and reviewing whether it can stop requiring certain data returns”, the FCA says.