The FCA Annual Report and Accounts shows how the FCA has improved its operating statistics for authorisations over the past year. It now meets its statutory deadlines for determining applications in 98% of cases.
Other highlights include:
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a pre-application support service for overseas firms;
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reform of the listing rules;
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a significant increase in FCA-led cancellations or permission and use of its intervention powers against firms that caused serious concern;
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FCA intervention on fair complaint handling which is likely to lead to around 270,000 customers being compensated for when firms failed to treat them fairly when they were in financial difficulty;
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redress for customers of the Woodford Fund and poorly advised British Steel pensioners;
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the “polluter pays” proposals;
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the FSCS levy falling to a 10 year low;
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an increase in the FCA bringing charges for financial crime offences;
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the new rules on crypto-assets;
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the Consumer Duty, now in force for closed products as w