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Regulated firms lack confidence in UK FCA’s ability to meet competitiveness objective

( October 23, 2024, 12:26 GMT | Official Statement) -- MLex Summary: Nearly half of closely supervised UK financial services firms said they weren't confident the Financial Conduct Authority could meet its secondary growth and competitiveness objective, according to a survey conducted by the regulator. The objective requires the FCA to factor UK growth and international competitiveness into the discharge of its functions. Only three in ten “fixed portfolio firms,” that the FCA says require the highest level of supervisory attention, expressed confidence their regulator could meet its objective. “Flexible” firms expressed more confidence, with just a quarter saying they did not think the FCA would meet the objective.  FCA and Practitioner Panel Survey attached. ...

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