Our Business Plan sets out the activities that we intend to carry out in 2014/15 to protect consumers, enhance market integrity and promote competition.
In the coming year we will continue to face challenges and enhance our processes to authorise new firms, supervise firm conduct, enforce our rules and ensure good outcomes for consumers in the most effective and efficient way. We will do this while keeping an eye on the ongoing and developing risks that we see in the financial markets and considering how we should respond to mitigate harm.
What is in our Business Plan?
We set out our general approach to regulation, highlighting our new responsibilities and the ongoing activities that we will be carrying out to achieve our objectives.
We discuss how we put consumers at the heart of what we do, and we set out the key activities that we will undertake to secure an appropriate degree of protection for consumers. This includes highlighting the thematic work that we intend to carry out that affects consumers and seeks to prevent them suffering financial harm.
We discuss how we aim to support a healthy and successful financial system, and we set out the key activities that we will undertake to protect and enhance the integrity of the UK financial system. This includes highlighting the thematic work that we intend to carry out in wholesale banking and investment management.
We discuss our approach to achieving our competition objective and set out the key activities that we will be carrying out to promote effective competition in the interests of consumers.
We set out our approach to taking over the regulation of the consumer credit industry from the Office of Fair Trading and the key activities that we will be carrying out to integrate these firms into our regulatory regime.
We discuss the seven forward-looking areas of focus from our Risk Outlook 2014
We set out how we will be an inclusive and responsible employer.
We set out our annual budget, including our operating costs and Annual Funding Requirement.
We will continue to engage with firms, consumers and other stakeholders to make our aims and expectations clear, and communicate openly and transparently, helping firms to follow our rules, with the ultimate goal of restoring consumers’ trust in the financial system.