The FCA and Practitioner Panel 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 Verian (formerly known as Kantar Public)[1], an independent social research organisation. They will send the survey to all fixed firms and an increased sample of 25,000 flexible firms this year. If you are one of the firms selected to complete the survey, please take the time to provide us with your valuable feedback. We’ve made the survey shorter compared to previous years so it will be easier to respond.
We will use the survey results to better understand issues affecting firms and to assess any changes we should consider making 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[2]. The results will be presented to the Practitioner Panel and our Board and published in summer 2024.
Responding to feedback from last year’s survey
Following the findings of last year’s survey[3], we have listened to the feedback provided, and are taking actions including:
- Improving our Authorisations performance and processing times for firms – see our latest authorisation operating service metrics[4].
- A new Cost Benefit Analysis Panel[5] in 2024 to provide advice on our cost/benefit analysis and using firm feedback we collect as part of our impact evaluation work will help ensure we act proportionately when introducing new policies.
- Ensuring even more opportunities during 2024 for the FinTech and RegTech sector to be supported through our Innovation services and inform our future work programme through the Innovation Advisory Group[6]. We will also increase the opportunities for firms to get involved through our TechSprints[7].
- As part of our Transforming Data Collection[8] work, we have sought feedback on our data requests from firms including how long they take to complete, and any associated costs incurred. We’ll use the insights to continue to make improvements.
In line with the Market Research Society Code of Conduct, Verian 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 Personal information will not be published or shared with the FCA or the Panels.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 Verian on 0800 015 0302 or at [email protected]. Alternatively, you can contact the FCA Supervision Hub on 0300 500 0597.