On 23 April 2019, the UK Financial Conduct Authority’s chief executive, Andrew Bailey, gave a speech to the ‘Future of Financial Conduct Regulation’ conference in London.
If there is any speech you are going to read, it probably should be this one. It gives a clear insight into the FCA’s thinking and, in particular, the role and use of the FCA’s Principles for Businesses. There seems a clear will within the FCA to re-look at these principles (and potentially increase their scope). As Mr Bailey says, “principles are not debating points, they are the bedrock of our regulation, and there is a good case for enhancing their standing and practical impact”.
For good measure, there is also some focus on Brexit (and its impact on financial services) and the FCA’s consultation on introducing a ‘duty of care’ in financial services.