FCA speech on “Cautious optimism for the post-pandemic world”
On 22 April 2021, Charles Randell, Chair of the FCA, gave a speech to the Finance & Leasing Association.
The highlights were:
- To be effective in the new world of financial services that coronavirus has brought forward, the FCA must enforce the gateway to authorisation; focus on the basics; focus on outcomes; and use its rulebook better and faster and be more agile and confident in using its Principles for Businesses to take action against those firms which are not doing the right thing.
- The FCA must also reshape itself to be able to deliver on the items above
- To make the transformation last, the FCA must state clearly the outcomes it wants, measure these outcomes and be transparent about whether it has achieved them