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.
Read our Business Plan 2014/15[2]
Download the printable version[3]
What is in our Business Plan?
Chapter 1 – Achieving our objectives[4]
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.
Chapter 2 – Protecting consumers[5]
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.
Chapter 3 – Enhancing market integrity[6]
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.
Chapter 4 – Building competitive markets[7]
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.
Chapter 5 – Regulating consumer credit[8]
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.
Chapter 6 – Potential risks to our objectives[9]
We discuss the seven forward-looking areas of focus from our Risk Outlook 2014[10]
Chapter 7 – How we operate[11]
We set out how we will be an inclusive and responsible employer.
Chapter 8 – Our budget for 2014/15[12]
We set out our annual budget, including our operating costs and Annual Funding Requirement.
Annex 1 – Current and planned thematic work and market studies[13]
Annex 2 – Current EU initiatives[14]
Next steps
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.