Financial Conduct Authority officials have defended their work on speeding up the firm authorisation process and cutting down on industry costs as criticism in Parliament mounted over its handling of the five-year plan.
On Tuesday (15 July), the UK regulator introduced faster targets for individuals and businesses seeking authorisation, with new firm approvals and variations of permission applications to be completed in four months instead of six as it currently stands. Chancellor orders Consumer Duty wholesale review This comes on the back of the FCA's 2025-2030 strategy launched in March which outlined its vision and priorities including becoming a "smarter regulator" and supporting economic growth. In a Financial Services Regulation Committee hearing today (16 July), members of Parliament raise...
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