The Financial Conduct Authority (FCA) has said today that it intends to "reflect on and embrace" the international nature of markets, and of its approach.
Chief executive Martin Wheatley says the FCA continues paving the way to a regulatory environment that "increasingly focuses on culture and conduct", as part of a "new regulatory landscape".
Speaking at this year's Markets Conference, Wheatley said that the "clean-up" from financial crisis is ongoing. The redesign of the UK's regulatory framework saw the creation of the FCA and Prudential Regulatory Authority (PRA) in April of this year. The FCA, he stated, will continue to drive changes in regulation, infrastructure and culture, as a body at the "heart of international regulation". He added that the regulator exists "to drive forward a changing global agenda".
It has also, said Wheatley, "adapted to changing winds", after its the preventative work throughout the crisis (as the Financial Services Authority). The FCA is now nearing completion of its work on market infrastructure and capital ratios.
The chief executive ended by stressing that, because most of the "big questions" for markets are international ones, less policy material will be coming direct from the FCA, but that doesn't mean the regulator is sitting idle. Far from it, he says: "You will witness first-hand how we share priorities with our EU and US counterparts, and how we are at the forefront of discussions to address cross-border risks".