Firms’ confidence, satisfaction and trust in the FCA rise

The latest FCA and Practitioner Panel survey shows rising levels of satisfaction, confidence and trust in the FCA among firms, alongside a strong understanding of Consumer Duty expectations. The FCA and Practitioner Panel annual survey of regulated firms provides valuable insights into how firms think we’re performing.The latest survey shows 79% of firms are highly satisfied with their relationship with the FCA, up from 74% last year. The proportion of firms rating the FCA as a highly effective regulator also increased from 69% to 76%, while 75% reported high levels of trust.Firms were most confident in our work to protect consumers (87%), ensure markets work well (85%) and enhance the integrity of the UK financial system (85%). There was a 27-percentage point increase in firms’ understanding of the Secondary International Competitiveness and Growth Objective and a 25-percentage point increase in confidence in our delivery of it.We took on board feedback from last year’s survey and provided further guidance to help firms embed the Consumer Duty. This year, 88% of firms say they understand what we expect on supporting consumers and embedding the Duty.The findings also provide valuab

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