Andrew Bailey wants well understood FCA mission
The Financial Conduct Authority has statutory objectives and publishes an annual business plan but there is “not a lot in between”, he says
One of Andrew Bailey's first priorities as chief executive of the Financial Conduct Authority (FCA) will be to establish a well understood mission, he told the UK's Treasury Select Committee today (July 20).
The FCA has three statutory objectives assigned to it by parliament: protecting consumers, enhancing market integrity and promoting competition. "They are very high level," Bailey observed.
The institution publishes a more detailed annual business plan, setting out its work programme, but
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