RI-M06

RI-M06: Satisfaction on proportionality, effectiveness, and how regulator actions affect attractiveness of UK

Overall, from your firm’s perspective, how effective has the FCA been in regulating the financial services industry in the last year? (Score out of 10)

 

Fixed Firms

Flexible Firms

Score20222023/242024/2520222023/242024/25
Effective (≥7)65%84%68%65%70%70%
Mixed (4-6)30%16%32%27%24%25%
Not Effective (≤3)5%0%0%8%5%6%

The work of the FCA enhances the reputation of the UK as a financial centre:

 

Fixed Firms

Flexible Firms

Response20222023/242024/2520222023/242024/25
Strongly Agree/Agree78%84%60%72%73%68%
Neither Agree nor Disagree10%7%25%20%19%22%
Strongly Disagree/Disagree12%9%16%7%7%9%
Don’t know0%0%0%1%1%1%

The FCA acts proportionately, so that the costs imposed on firms are proportionate to the benefits gained:

 Fixed FirmsFlexible Firms
Response2022/232023/242024/252022/232023/242024/25
Strongly Agree/Agree33%34%28%37%42%41%
Neither Agree nor Disagree28%29%31%32%30%31%
Strongly Disagree/Disagree38%37%41%30%26%26%
Don’t know0%0%0%2%3%2%

Alongside its primary strategic and operational objectives, the FCA has a secondary international competitiveness and growth objective (SICGO).

How confident are you that the FCA's oversight of the industry delivers on this objective?

 Fixed FirmsFlexible Firms
Response2023/242024/252023/242024/25
Very Confident/Confident29%26%58%55%
Not very/at all Confident47%69%24%28%
Don’t know24%5%19%17%

How well would you say your firm understands what the FCA is trying to achieve through the secondary international competitiveness and growth objective (SICGO)?

 Fixed Firms Flexible Firms 
Response2023/242024/252023/242024/25
Very/Fairly well64%44%44%46%
Not very/at all well32%54%40%40%
Don’t know5%2%15%14%

Source: FCA and Practitioner Panel Survey