On 2 July 2015, the FCA published its annual report for 2014/2015. The report outlines some of the key pieces of work undertaken by the FCA in the last 12 months including:
- Taking over responsibility for regulating consumer credit and the increase in the number of firms it regulates to 73,000.
- Its launch of Project Innovate to help bring innovative financial products and services to the market.
- Its review into competition within the wholesale sector.
- Taking steps to implement the new Senior Managers Regime.
- Publication of its cash savings study.
- Publication of its retirement income market study and implementation of new pension changes.
- Its enforcement action, including on LIBOR and Forex.
- Its response to the Davis review.
The annual report can be read in full here. It will be discussed at the FCA’s annual public meeting on 22 July 2015.