As part of the Panel’s aim to provide early and effective practitioner input into the FCA’s policy development from a smaller firm perspective, it has identified four themes which impact on smaller firms. It has also identified four priority areas of work for the coming year:
Proportionality and cost-effectiveness
Volume and pacing of regulatory measures
Communications and engagement
Clarity of regulation
Cyber Crime: Improving protection for smaller firms and their customers
- To advise on communications with smaller firms.
Financial and Investment Advice: Helping improve affordability and accessibility
- To monitor implementation of FAMR recommendations.
Indebtedness: Affordability & Distribution Practitces
- To highlight and focus the scope of FCA studies on key areas of concern.
Extension of Senior Managers & Certification Regime
- To ensure requirements are proportionate and are fully understood by industry.