Apple for the regulator? Industry delivers FCA mainly positive report-card

Though survey respondents at UK financial services firms broadly agree that the regulator is performing its functions well, they gave lower scores for promoting competition effectively. There are also concerns about the regulatory reporting burden, whether innovation is being supported adequately, as well as the complexity of FCA communications.

The bulk of financial services firms – 88 per cent – are confident that their regulator is delivering on its strategic objective of ensuring financial markets function well. This is slightly up on the 86 per cent of last year. The Financial Conduct Authority and its Practitioner Panel receives direct and anonymous feedback from firms of all sizes on its performance every year. This year Kantar Public conducted a survey of firms, 2,888 of whom responded, between January and March.