[Financial Services] The FCA Business Plan and Risk Outlook

Previously, the FCA has published a Risk Outlook alongside its business plan. This year, however, the FCA has decided to merge these two documents.

We believe that this demonstrates the FCA’s clear intentions to articulate in a transparent way how its analysis of risk is connected to its strategic priorities and its regulatory actions, and how it seeks to achieve its objectives.

In 2014/15, the FCA identified seven forward-looking areas of focus, which it believes could pose risks to its objectives (consumer protection, marketing integrity and competition). For 2015/16, the FCA has refined its understanding of the potential risks in these areas and the steps it may need to take to mitigate them. The FCA will expect firms to consider these risks as part of their strategic plan in the coming year.

This document summarises the FCA’s approach and provides recommendations for firms in relation to them.