The FCA has published guidance on its approach to advancing its objectives. The guidance sets out what firms and consumers can expect from the FCA and how it intends to deliver its statutory responsibilities. This includes how it considers the scale and diversity of the different sectors, firms and products it regulates and the wide range of consumers who use them.
The FCA’s overarching strategic objective is to ensure that the relevant markets work well. The guidance published by the FCA is based around its three operational objectives that support its strategic objective. These are:
- securing an appropriate degree of protection for consumers
- protecting and enhancing the integrity of the UK financial system
- promoting effective competition in the interests of consumers
The FCA published an earlier version of the guidance in July 2013, the revised version takes into account the feedback it received on the earlier version and other developments that have occurred since.