On 22 March 2012, the FSA published its Business Plan for 2012/13. It sets out the key priorities and identifies implications for the FSA’s budget. The plan covers:
• delivering the regulatory reform programme (including the introduction of a twin-peaks model operating within the FSA from 2 April 2012 – the objectives to be closely aligned with those of the Prudential Regulation Authority (“PRA”) and the Financial Conduct Authority (“FCA”));
• influencing the international & European policy agendas;
• delivering financial stability (including the implementation of CRD IV and Solvency II in the UK);
• delivering market confidence (including work on the EU markets legislative proposals and strengthening the FSA’s client assets regime);
• delivering consumer protection and combating financial crime;
The FSA will hand over responsibility for prudential regulation to the PRA and conduct regulation to the FCA in the first half of 2013.
Tags: FCA, FSA, PRA
