The Panel’s aim is to provide early and effective practitioner input into the FCA’s policy development from a smaller firm perspective.
Within the overall objective of considering the impact of regulation on smaller firms it has the following areas of focus:
Growth and innovation
Creating a regulatory environment where smaller firms can thrive
Ensuring growth is inclusive of all types of business models
Supporting smaller firms to explore new technologies and innovate
Sustainability of smaller firms
Ensuring a proportionate approach to regulation including supervisory interaction with smaller firms
Reducing regulatory burdens on smaller firms (data requests etc)
Effective regulation including robust CBA of proposed policy (outcomes sought, effectiveness and cost)
Consumer Duty
Embedding of the Duty including sharing good and bad practice
Ensuring the impact is proportionate and we minimise unintended consequences