Regulating finance for the whole of the UK

Regulating finance for the whole of the UK.

Last month, Charles Randell, chair of the FCA, gave a speech highlighting the need to listen to the diverse needs of the people in order to level up the UK.

The speech represents the FCA's increased focus on 'getting the culture right' and a need to put the consumer’s voice at the front and centre of the FCA’s regulation. Randell described the FCA's plans are centred on "strengthening a culture of confidence and agile and assertive action at the FCA". 

The focus on culture also extends to regulated firms, linking to the FCA's new targets for gender and ethnic diversity at boardroom level.  From the April this year, firms must include a statement in their annual financial report setting out whether they have met these specific board diversity targets on a ‘comply or explain’ basis.