The Panel’s aim is to provide early and effective practitioner input into the FCA’s policy development from a smaller firm perspective
Within the overall objective of considering the impact of regulation on smaller firms it has the following areas of focus:
- To help the FCA develop its understanding of how smaller businesses contribute positively to a strong, competitive market
- To support the development of clear communications and examples of good/bad practice for smaller firms
- To support the FCA’s priorities and ensure future regulation is clear, transparent, and fit for purpose
- To help the FCA understand the cost of regulation for smaller firms and the need for proportionality
For 2024-25 the Panel has identified four priority areas of work:
- Sustainability of smaller firms
- Implementation of the Consumer Duty
- Responding to the impact of major external shocks
- Engaging with the Future Regulatory Framework