The Virtual Festival organized by the Personal Investment Management and Financial Advice Association (PIMFA) also featured Mark Carney, former Governor of the Bank of England delivering a speech on climate change.
Megan Butler’s speech outlined the FCA’s response to COVID-19 and its expectations for 2020. Highlights from the speech included:
- Noting that from an operational perspective, the industry has responded well with business continuity arrangements working successfully and a general feeling that firms are coping and adapting well;
- An overview of the FCA’s current priorities and longer-term expectations for the wealth management and advice industry;
- A summary of what the FCA expects from firms in terms of operational and financial resilience; and
- An outline on the future of regulation including developments in technology, the UK’s position in Europe and whether the current regulation framework is delivering for users of financial services.
The full speech can be found here.