The FCA and Practitioner Panel 2022/23 survey is being sent to a sample of regulated firms, to gather their feedback on how we are doing in regulating the industry.
The survey is carried out on our behalf by Kantar Public, an independent social research organisation. Kantar sends the survey to all fixed firms and a sample of 13,000 flexible firms. If you are one of the firms selected to complete the survey, please take the time to provide us with your valuable feedback.
We will use the survey results to better understand the issues affecting firms and assess whether any changes should be made to our approach, as part of becoming a more innovative, assertive, and adaptive regulator. The survey is one of several sources of feedback used to evaluate our performance against key areas of our 3-year Strategy. The results are presented to the Practitioner Panel and our Board and will be published in summer 2023.
Responding to feedback from last year’s survey
Following the findings from last year’s survey we made a number of improvements, including:
- Taking steps to help firms better understand why we collect specific types of data from them – for example, by adding descriptions and rationale at the top of each data collection form. Also, as a result of our work on the Transforming Data Collection programme, we are piloting a data visualisation initiative to show firms, in a meaningful way, the data they submit to us.
- Responding to feedback in previous surveys, where some smaller firms said that they do not engage with our consultation processes, because of the time required to respond to all questions and a lack of clarity on the most effective way to respond. We are introducing a new, simpler approach to providing feedback on our proposals, using the Qualtrics tool. This allows firms to submit their responses online and to only respond to specific questions that are relevant to them. So far this year we have used the approach on 10 publications across a range of topics. The response has been positive, and we continue to make improvements based on feedback received.
Following feedback, we are also progressing a strategic programme to improve the way we operate our authorisations processes in the future. In October 2022 we published an update on our progress regarding our operating service metrics and authorisations case work.
In line with the Market Research Society Code of Conduct, Kantar Public treats all survey responses in the strictest confidence. Personal information will not be published or shared with the FCA or the Panels.
If you receive a request to participate in the survey and have any questions, contact Kantar Public on 0800 015 0302 or at [email protected]. Alternatively, you can contact the FCA Supervision Hub on 0300 500 0597.