The FCA’s miss(ion) mash

The first question raised by the Financial Conduct Authority’s ‘Our future Mission’ consultation is, is it even a Mission Statement and, if so, which bit? Adam Samuel appraises the document and the regulator’s ongoing struggle to communicate.

Adam Samuel BA LLM DipPFS MCISI FCIArb Certs CII (MP&ER) Barrister and Attorney may be contacted at adamsamuel@aol.com. His book, ‘Complaints and Compensation: a Guide to the Financial Services Market’, is available from his website, www.adamsamuel.com.

October’s FCA Mission Statement may be one of the oddest documents produced by the regulator in its relatively short history. Weighing in at over 40 pages, the one thing that it is not is a mission statement or at least not an effective one. To have any impact, such a document needs to be short and snappy. It needs to set out clearly the values and goals of the organisation, ideally in one sentence.