The FCA and the Practitioner Panel have published a report from our 2024/25 joint survey of FCA regulated firms.
We have published the findings of the FCA and Practitioner Panel 2024/25 survey (PDF)[1].
The survey feedback gives us a clear picture of how firms see the FCA’s performance and are an important tool to help us focus on the issues that matter most.
Feedback shows that firms’ views are broadly similar with previous years. Most continue to hold a positive perception of our performance (rated us 7 out of 10 for satisfaction) and trust (81% said trust levels had stayed the same as the previous year) in our role to deliver strategic priorities and maintain the integrity of financial markets.
Matt Hammerstein, chair of the FCA Practitioner Panel said:
'These results highlight both the progress the FCA has made and the areas where further improvement is needed. It is encouraging that trust levels, along with perceptions of staff knowledge and experience, have remained steady, and many of the areas for improvement align with priorities set out in the FCA’s new 5-year strategy.
'The Practitioner Panel looks forward to using the valuable input gathered from the survey to continue to provide constructive challenge to the FCA throughout the next year.'
Firms have also told us there are areas we can improve on, including:
- Taking further steps to support growth and competitiveness
- Continuing to reduce unnecessary data requests, by asking for only what we need
- Streamlining our supervision approach by reducing the amount of correspondence firms receive
Nikhil Rathi, chief executive of the FCA said:
'Listening to firms of all sizes helps us understand what really matters to them, and the feedback is essential to shaping how we operate. By acting on these insights, we can continue to strengthen our effectiveness and be a smarter regulator.'
We’re already taking significant strides to address these priorities and drive meaningful improvements where they matter most. Since the survey was carried out, we have launched our new 5-year strategy focusing on helping consumers, fighting crime, supporting growth and being a smarter regulator.
The survey was carried out between 3 February and 31 March 2025. Since then, we’ve delivered a range of measures to support our growth objective with many more to come. This includes the overhaul of the UK listings rules, reform of UK retail disclosure rules, better value for money for workplace pension savers and improved consumer advice, to promoting innovation through our AI lab. We have also been cutting back on data reporting returns, benefitting over 36,000 firms, and have plans to take a more flexible approach to our supervision.