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Are we about to see the transformation of financial services regulation?
Duncan Minty looks at powerful messages in the FCA’s new Data Strategy. The FCA has published a new Data Strategy, covering the five years to 2024. It’s a powerful statement of intent, “…to deliver a transformation in how we work…”.
It shows the regulator starting to move from being behind the market, picking up problems that have already impacted consumers, to being alongside the market, perhaps even ahead of it on some issues. This data strategy will see the regulatory radar:
The regulator will be reviewing historical data and assessing where harm has occurred so as to learn lessons for the future. That’s all fine, but it also contains the ingredients for them to take what is learnt from that analysis and see it through the lens of present day certifications.