At the FCA AGM in September, CEO Andrew Bailey stated their areas of focus as follows;
They are working with the Government on the EU Withdrawal legislation to ensure continuity of the legal and regulatory framework after Brexit, when EU law will cease to have effect in the UK.
They are working on the design of the proposed temporary permissions regime (TPR) for EEA firms currently operating in the UK. The TPR will ensure EEA firms can operate the day after exit as they did the day before.
This can take broadly two forms: cyber-risk, which involves the threat from outside actors seeking to disrupt firms and systems; and second, the risks that arise from the greater complexity of operational platforms in firms which can, as we have seen, lead to disruption for consumers.
Technological Change and Innovation
To magae the risks of technology change.
Last year they received 1,064 requests for information and investigatory assistance from over 80 different regulatory and law enforcement authorities in 63 countries. We also worked closely with colleagues on a number of high profile cases.
The first issue involves loss of personal data belonging to customers, whether caused by harmful actions such as cyber-attacks or due to mismanagement of data and negligence by firms.
The second involves how firms use personal data, and whether this is consistent with FCA rules and principles.