FCA sets out ‘Mission’ as UK bank regulator ushers in new era

LONDON: The UK Financial Conduct Authority (FCA) will prioritise supporting the government with Brexit and helping consumers wrongly sold payment-protection insurance, according to its business plan for next year, published alongside a “Mission” statement that ushers in a new era at the regulator.

Other areas in focus are how to better help vulnerable customers of financial services and issues around long-terms savings and retirement, the agency said in its 2017-18 business plan. The priorities also included a breakdown for the first time of the main issues the regulator is concerned about in each sector, such as retail banking. The annual plan comes at the same time as the new “Mission” statement, which aims to more clearly define the FCA’s remit for the industry and public.