The Financial Conduct Authority (FCA), in partnership with the Practitioner Panel, is launching its annual survey to gather insights from regulated firms about its regulatory performance.
Conducted by the independent research organisation Verian (formerly Kantar Public), the survey will reach all fixed firms and an expanded sample of 25,000 flexible firms. Selected firms are encouraged to participate and share their feedback, with the survey now streamlined for easier completion.
The feedback will inform the FCA’s understanding of industry challenges and influence potential adjustments in its regulatory approach, aligning with its goals of innovation, assertiveness, and adaptability.
This initiative is part of the FCA’s broader strategy to gauge its effectiveness over a 3-year period, with findings to be shared with the Practitioner Panel, the FCA Board, and published in summer 2024.
In response to last year’s survey feedback, the FCA has initiated several improvements. These include enhancing authorisation processes, establishing a Cost Benefit Analysis Panel for 2024 to refine policy impact assessments, and increasing support for the FinTech and RegTech sectors through its Innovation services.
Additionally, the FCA is focusing on refining its data collection practices based on firm feedback to streamline reporting requirements and reduce associated burdens.
