Page 44 - 期貨和衍生品行業監管動態（2024年8月刊）

期貨和衍生品行業監管動態

and clearer standards of consumer protection and requiring firms to put their

customers’ needs first.

‘We now want to seize the opportunity of the Duty and the move to a clear

outcomes-based approach to streamline our rulebook, lowering costs for businesses

and supporting the competitiveness and growth of the economy.’

Alongside the broad rule review announced today, the FCA is considering

simplifying rules in the commercial insurance sector, a market worth over ￡15.5

billion in the UK.

The FCA is inviting views on whether changing how customers are categorised

could significantly reduce the time needed to take on new customers, or renew their

contracts, and allow products to be custom made. This would reduce regulatory costs

and may increase the competitiveness of the commercial insurance market.

The launch of both reviews comes on the day the regulator publishes its first

report dedicated to how it has taken forward its secondary objective to support UK

competitiveness and economic growth over the medium to long-term.

Recognising the vital role that the regulator plays in enabling new financial

services firms to get off the ground, the FCA has improved its authorisation process
with 98% of cases now assessed within statutory deadlines, up from 78.9% in Q1 of

2022/23.

Overseas wholesale financial firms wishing to operate in the UK can benefit

from pre-application support from the FCA. The regulator has also completed the

biggest reform to the listing rules in a generation.

The FCA continues to support innovation in financial markets, including the

creation of a permanent Digital Sandbox, a testing environment that supports firms at

the early stage of product development.

Today, the FCA has also confirmed that from 1 August, it will consult a new

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