Journey to the FCA - FAQs

The FSA has produced some FAQs about the "Journey to the FCA".

To a large extent, they point to the Approach document due to be published in the Autumn, in which, they say, they will set out more detail on some extremely important issues which, as yet, have not been properly publicly aired and debated, such as:

• how product intervention will work;
• the FCA's supervisory approach;
• how the competition objective will work in practice;
• whether the Regulatory Decisions Committee is to be abolished; and
• core to it all - what "good consumer outcomes" look like.

Some significant dates coming up:

Sep 2012            

A number of Consultation Papers (5 or 6) primarily focussing on process changes, but more substantive consultations on authorisations and the new threshold condition

Oct 2012            

2nd more substantive FCA approach document

Nov 2012           

FSA Board to finalise 3 year Business Plan and Roadmap for FCA (publication early 2013)

Mar 2013          

Currently foreshadowed as potential date for legal cutover to FCA and PRA (could slip to April, or beyond)