FCA survey finds firm satisfaction up to 79%, trust rises to 75%

Analysis produced by Priya Raghunathan (AI, She, Her)

The FCA has published results from its annual survey with the Practitioner Panel, measuring how regulated firms view its performance. The data cover satisfaction, trust, effectiveness and understanding of specific objectives including Consumer Duty and the secondary competitiveness objective. Compliance and government affairs teams tracking the FCA's relationship with industry and its simplification agenda should note the figures.

• 79% of firms reported high satisfaction with their FCA relationship, up from 74% last year.
• 76% of firms rated the FCA a highly effective regulator, up from 69%, and 75% reported high trust.
• Understanding of the Secondary International Competitiveness and Growth Objective rose 27 percentage points, with confidence in its delivery up 25 points.
• 88% of firms said they understand FCA expectations on supporting consumers and embedding the Consumer Duty.
• The FCA says it is removing outdated or duplicated data returns for 90% of firms and delivered an estimated £5.6bn in benefits to consumers and the economy in its strategy's first year.

Executive summary

The FCA has published results of its annual survey conducted jointly with the Practitioner Panel, which gathers feedback from regulated firms on the regulator's performance. The survey found 79% of firms highly satisfied with their relationship with the FCA, up…

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