October 23, 2018

October 23, 2018

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October 22, 2018

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FCA Sets Out Future Approach To Authorisation And Competition

FCA has outlined its approach to authorisation and to competition. It notes it is one of the few financial regulators in the world with an objective that includes promoting competition. It wants to understand, in relation to authorisations:

  • whether applicants clearly understand how to meet the Threshold Conditions – and, if not, how FCA could be more specific
  • whether FCA could improve the way it supports firms and individuals towards meeting the minimum standards
  • whether FCA suggests the right commitments to applicants and
  • whether FCA has prioritised the right strategic goals.

In tandem with these questions, it asks questions about how it would be using its competition remit, for example for designing remedies to address the lack of competition and what indicators of potential harm it should use.

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About this Author

Emma Radmore, Womble Dickinson Law Firm, United Kingdom, Finance Law Attorney
Legal Director

Emma joined the firm in August 2016. She has over 20 years' experience of specialising in financial services regulation. Emma advises UK and international clients on compliance with all aspects of financial regulation and prevention of financial crime.

Emma acts for a range of regulated clients including banks, fund managers, investment firms, insurance firms and other retail intermediaries.