New FCA Discussion Paper demonstrates how the regulator’s thinking in relation to culture has evolved.

Introduction -

In Discussion Paper (DP) 18/2, the FCA has taken an unusual approach to a topic that has received considerable attention in recent years. Instead of introducing new rules, or issuing guidance, the FCA has collated a series of essays (28 of them, covering 85 pages) in order to stimulate further debate within the industry on the importance of culture, and how to improve it. In the overview section of DP18/2, Jonathan Davidson, FCA Director of Supervision, pulls together the key themes and sets them out along with the FCA’s latest thinking.