21st February 2017

BBA response to the FCA’s Mission Statement

We are keen to table our thoughts on the key areas that the mission should look to address from a banking perspective. We see the development of a mission statement – to add colour to the Financial Conduct Authority’s (FCA’s) statutory objectives as a very important development; an opportunity to reset the relationship between the regulator and authorised firms. To help to form an industry position, we have canvassed widely across the C-Suite of a range of member segments, including retail banks, specialist banks, private banks and challenger banks.

Our technical panels, comprising subject-matter experts have supported the more detailed responses to the specific questions raised; for example our vulnerability sub group and financial inclusion panel gave considered thought to your analysis of vulnerable consumers. We have also tested our thinking informally with other stakeholders and whilst different trade bodies have different priorities, we are confident that our thinking resonates with and compliments the responses of others.

Please read the full response via the link below.