FCA mulls removing decision-making powers from senior committee
Decisions regarding firms failing to meet FCA standards would be taken by FCA staff instead
The UK’s Financial Conduct Authority is consulting on whether to shift certain decision-making responsibilities away from one of its senior committees.
Currently, the regulatory decisions committee (RDC) takes several decisions on behalf of the FCA. But the regulator now wants these decisions to be taken by its authorisations, supervision and enforcement divisions.
“The proposed changes will allow us to be more efficient by making best use of the breadth of expertise across the FCA and by
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Organisation
Argentine candidate promises opposition seats on BCRA board
Massa promises to renegotiate IMF loan as country heads to the polls on October 22
Ex-governor issues stern warnings about planned RBA revamp
Debate over proposed changes to board structure escalates
Legal dispute pits Costa Rica central bank against financial supervisor
Regulator has refused to hand over credit data, and central bank has filed criminal charges
Costa Rica proposes strengthening central bank independence
Government wants to remove finance minister from board and change audit procedures
To govern well, manage ‘enterprise’ risk
Effective risk management should be governance-oriented and top-down; not operationally oriented and bottom-up, writes John Mendzela
Chile governor warns committee against adding mandates
Debate over central bank role continues in Chile’s second attempt at new constitution
China to overhaul financial regulatory system
Proposed changes reduce the PBoC’s role in financial oversight
RBI report details Covid contingency measures
Central bank reorganised staff and processes at “unprecedented scale and speed”
Most read
- Supervisors grapple with the smaller bank dilemma
- Fed policy-makers disagree over risks
- Central bank of the year: Central Bank of Brazil