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.