Financial Conduct Authority outlines priorities for the year

The Financial Conduct Authority (FCA) is busier than ever, taking on a handful of cross-sector priorities to ensure regulation keeps pace with rapidly changing financial services and consumer needs. In its newly published Business Plan for 2019/20, the FCA outlined its main areas of focus and planned activities. These encompass the areas of investment management, retail lending, pensions and retirement income, retail investments, retail banking, wholesale financial markets, and of course general insurance (GI) and protection. In terms of GI, among the key priorities are fairness in pricing and product value as well as access and exclusion in insurance. Aside from releasing the findings of its distribution chains review, the regulator’s activities in this sector also include monitoring claims inflation and evaluating the outcomes from GI renewals transparency.