Commenting on the HM Treasury’s ‘Response to the Call for Proposals on Financial Services Regulation: Measuring Success’ and publication of metrics for FCA and PRA, Miles Celic, Chief Executive Officer, TheCityUK, said:
“The government’s introduction of metrics for the FCA and PRA is a significant step forward in helping to hold the regulators to account on their new secondary objective for economic growth and competitiveness. It’s crucial that government, regulators and industry continue to work together to ensure these metrics remain relevant and are refined over time. In particular, we would like to see the development of measures to allow better comparison of the performance of regulators against other international financial centres.”