FCA Chief Executive Nikhil Rathi stated:

We've already made great strides toward realizing the audacious goal outlined in our plan two years ago, including the revolutionary implementation of the Consumer Duty and the proposal of the most comprehensive changes to the listing regime and wholesale market regulation in decades.

"We continue to protect consumers and uphold market integrity while also embracing the potential benefits that technology presents for us and the companies we regulate." The financial industry is crucial to the long-term economic success of the UK.

The 13 pledges outlined in the FCA's strategy—which center on averting major harm, raising standards, and fostering competition—will still be carried out. Particular matters that it will give priority to are:

safeguarding customers by ensuring that companies are adhering to the strict guidelines outlined in the Consumer Duty, assisting individuals in achieving long-term financial security through the Advice Guidance Boundary Review, and ensuring that pension plans offer good value for money.
enhancing the appeal and reach of the UK wholesale markets, encouraging businesses to invest, innovate, and grow through our innovation services, and keeping the process of authorisation applications more streamlined and straightforward in order to enhance UK competitiveness and growth.
enhancing the considerable strides already accomplished to establish itself as a premier data-driven regulator by automating additional analytical tools to expedite the detection and response to consumer damages and collaborating with businesses on the secure implementation of artificial intelligence.

The proposed work program expands on the strides achieved in the last few years to become a more data-driven, assertive, outcomes-based regulator.

A significant change was brought about by the Consumer Duty, which established stronger and more precise guidelines for consumer protection. As a result, businesses have already adjusted their savings rates and other expenses.

The FCA is harsher on the companies that could cause harm and is using data better to identify and prevent harm sooner. In 2023, it eliminated more than 10,000 potentially deceptive advertisements and sent 2,243 alerts on unapproved businesses and individuals. In addition, compared to the prior year, it more than doubled the amount of firm permissions revoked for not meeting its minimal requirements.

To make sure the UK stays a desirable location for investments, it has modified its regulations and enhanced its procedures. As part of this, the most comprehensive set of listing regime adjustments in decades is being proposed in order to promote a wider range of companies to list in the UK and compete internationally.