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:

  • To help the FCA develop its understanding of how smaller businesses contribute positively to a strong, competitive market
  • To support the development of clear communications and examples of good/bad practice for smaller firms
  • To support the FCA’s priorities and ensure future regulation is clear, transparent, and fit for purpose
  • To help the FCA understand the cost of regulation for smaller firms and the need for proportionality

For 2024-25 the Panel has identified four priority areas of work:

  1. Sustainability of smaller firms
  2. Implementation of the Consumer Duty
  3. Responding to the impact of major external shocks
  4. Engaging with the Future Regulatory Framework