Nikhil Rathi writes to FCA panels setting out current and future work plans

Nikhil Rathi writes to FCA panels setting out current and future work plans

The CEO of the Financial Conduct Authority (FCA), Nikhil Rathi, has written to the independent Practitioner Panel and the independent Financial Services Consumer Panel to thank them for their contributions in 2020 and to outline areas of the FCA’s ongoing work.

The letter to the Practitioner Panel discusses:

• the FCA’s coronavirus (COVID-19) response

• the future of regulation (including the Senior Managers Regime and pension transfer advice)

• data and technology (including operational resilience)

• the balance of responsibilities (including intergenerational differences and vulnerability guidance)

The letter to the Financial Services Consumer Panel discusses:

• COVID-19

• regulatory effectiveness

• fair treatment of customers (including digital marketing, financial promotions, contingent charging and loyalty penalties)

• access to financial services

• consumer credit (including motor finance, overdrafts, the Credit Information Market Study, persistent debt rules and extending mortgage prisoner rules)

Sources: FCA response to key comments from the independent Practitioners Panel annual report for 2019/20

FCA response to key comments from the independent Financial Services Consumer Panels annual report for 2019/2020

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