The FCA is the conduct of business regulator of all financial services firms in the UK. It is responsible for ensuring relevant markets function well, the conduct supervision of all financial services firms and the prudential supervision of any firms not supervised by the Prudential Regulation Authority. The FCA is also a concurrent competition regulator.
The Financial Services and Markets Act 2000 requires the Treasury, at least once in each Parliament, to make recommendations to the FCA about aspects of the economic policy of the government to which the FCA should have regard when advancing its objectives and discharging its duties.
This letter fulfils the Treasury’s statutory requirements detailed above. The Treasury will issue a further letter of recommendations at the next appropriate opportunity under the next Parliament.
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