We set out to be as open and accountable as possible, so we can be scrutinised by consumers, firms and Parliament.
To do this we:
- publish information about regulated firms and individuals, or we require them to do so
- function as transparently as possible
Disclosure of interests
The FCA’s Conflict of Interests Policy requires all FCA employees to make certain declarations in respect of themselves and their close family members. A similar policy requires Non-Executive Directors to make such disclosures.
For the purposes of transparency, information relating to positions held and financial interests that has been provided by members of the Board and the Executive Committee is disclosed in the following documents:
Other information we publish
We publish key data about what we do and the markets we regulate. Our data strategy outlines how we want to be smarter in the way we use our data and advanced analytics to transform the way we regulate and reduce the burden on firms. This builds on our first data strategy which set out why we ask for certain information from firms and what we do with it.
Our press office handbook sets out how we deal with the media.
We also publish impact assessments as required under the Small Business, Enterprise and Employment Act 2015. These look at changes we make that impose a requirement, set standards, or give or amend guidance for businesses. The impact assessments are verified by the Regulatory Policy Committee.
We have also published the FCA Enterprise Act Annual Report.
The FCA Board undertook its third independent effectiveness review in 2017 (carried out by Independent Audit Ltd), the previous ones having been undertaken in 2014 (also carried out by Independent Audit Ltd) and 2015 (carried out by Boardroom Review Limited).
We are applying the principles of the Senior Managers Regime to our own senior managers including members of our Board, Executive Committee and those carrying out senior management functions.
We are legally required to protect confidential information relating to both individuals and firms.
Confidential information is information we receive in the course of our work that relates to the business or affairs of any person. Information is not confidential if:
- it is already lawfully publicly available
- it is written so that the reader is unable to gather from it information about any particular person or firm, for example collective data on a group of firms
There are certain circumstances in which we can disclose confidential information to others, but outside of these it is a criminal offence. So in many circumstances we are unable to disclose information even if it might be helpful to others.
When we do disclose confidential information, it continues to be confidential in the hands of the recipient. Any recipient who then discloses the confidential information, unless they are permitted by law to do so, commits a criminal offence. We cannot give permission to others to disclose information if the law does not permit it.