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FCA outlines 5-Year strategy focusing on four key themes

29 November 2024

FCA outlines 5-Year strategy focusing on four key themes

The Executive Director of Markets and International at the FCA, delivered a speech which highlighted the FCA’s 5-year strategy which will focus on 4 key themes to deliver on their 3 key commitment areas: reducing and preventing serious harm; setting and testing higher standards; and promoting competition and positive change.

 

Key themes include:

  • Tackling Financial Crime: Combatting financial crime remains a top priority. The FCA is enhancing its technology capabilities, fostering public-private collaboration, and strengthening enforcement to mitigate risks posed by fraud, money laundering, and illicit activities.
  • Becoming a More Efficient and Effective Regulator: The FCA is leveraging advanced data analytics, artificial intelligence, and streamlined processes to improve regulatory oversight and responsiveness.
  • Building Consumer Resilience: Supporting consumers in making informed financial decisions is vital. The FCA is working to improve financial education, ensure fair treatment by firms, and protect consumers from mis-selling and other risks.
  • Supporting Economic Growth and Innovation: The FCA continues to champion innovation in financial services, supporting fintech, sustainable finance, and digital transformation.

💡 Firms should prioritise strengthening their AML and CTF controls, adopt innovative approaches to compliance, and stay informed about the FCA's expectations to ensure alignment with its strategy.
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