Is the FCA’s five-year plan really a bold new strategy, or ‘more of the same’?
In this podcast, Simon Harrington, Head of Public Affairs at PIMFA and Andrew Strange, Director of Financial Services and Regulatory Insights at PwC, reflect on what the FCA’s recently published five-year plan means for PIMFA member firms. They explore the FCA’s four specific objectives, including becoming a smarter regulator through improved data usage and the use of AI. They discuss the implications of the strategy changes on firms, particularly smaller ones, and the cessation of ‘Dear CEO letters’. They also delve into the interconnected goals of rebalancing risk and supporting growth, interpreting the FCA’s alignment with the broader government growth agenda. They reflect on the ongoing challenges in financial crime prevention and the industry’s response to these challenges. Concluding, they ponder whether this newly outlined strategy will significantly alter firms’ lived experiences or remain mostly aspirational.
