Recommendations for the Financial Conduct Authority: April 2022

The FCA is the conduct of business regulator of all financial services firms in the UK. It is responsible for ensuring relevant markets function well, the conduct supervision of all financial services firms and the prudential supervision of any firms not supervised by the Prudential Regulation Authority. The FCA is also a concurrent competition regulator.

The Financial Services and Markets Act 2000 allows the Treasury to make recommendations to the FCA about aspects of the economic policy of the government to which the FCA should have regard when advancing its objectives and discharging its duties.

This letter provides such recommendations. It should be read in conjunction with the letter sent to the Chief Executive of the FCA on 23 March 2021 as the recommendations in this letter are intended to supplement rather than replace the recommendations made in the 2021 letter.