C1A: FCA Accountability - created from Mind Map

Financial Services Practitioner Panel

Financial Services Consumer Panel

Smaller Businesses Practitioner Panel

Markets Practitioner Panel

- established Nov 1998

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FSPP- provide a high-level body available for consultation on policy- conveys views & concerns of regulated industries- comprises senior figures from cross-section of the industry- meet formally on mthly basis to discuss current & future issues- specialist subgroups provide value of more focused deliberation- aim to provide practitioner input into FCA's policy development- focus on areas of regulatory change that have greatest impact on firms & consumers

FSCP- represents interest of consumers by advising, commenting & making recommendations on extg & developing FCA policy & practices- speaks on behalf of consumers by reviewing, monitoring & reporting to FCA on effectiveness of FCA policy & practices- members of panel recruited through process of open competition & reflect broad range of expertise & experience

SBPP- objective to ensure regulatory environment enables smaller firms to be commercially viable, providing broader choice & access for consumers- has statutory status under Financial Services Act 2012- represent interests of smaller financial businesses through provision of practitioner input into FCA policy development- enjoys same operational independence as other panels & operates in similar way to FSPP- meets monthly

MPP- modelled on role & operation of extg panels- represents interests of practitioners likely to be affected by exercise of FCA's functions relating to markets, short-selling powers, & regulation of recognised investment exchanges

FCA Accountability

Annotations

Notes