The Monetary Conduct Authority (FCA) has reported improved authorisations working service metrics for its newest quarter, which it stated reveals “we proceed to make good progress in the direction of assembly all our service stage targets”.
The info for April to June 2023 – which is the FCA’s first quarter of the 2023/24 fiscal yr, confirmed eight metrics are inexperienced, six are amber and two are purple.
Three of the amber metrics are improved and are inside one per cent of changing into inexperienced. One metric which was inexperienced final quarter is now amber.
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One space the place the FCA has proven enchancment is in its authorisation course of for authorised corporations in search of ‘accredited individual’ standing below the appointed representatives regime. The metric went from purple within the earlier quarter to amber within the newest quarter.
The 2 areas the place the regulator continues to be scoring purple are each associated to fee providers and e-money authorisations.
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“We report our authorisations metrics quarterly to offer better transparency of our efficiency,” the Metropolis watchdog stated. “We need to ensure the UK is the perfect place on this planet for monetary providers to thrive. This includes offering an efficient and environment friendly service while sustaining excessive requirements to guard prospects and to bolster the fame of the UK market.”
The following efficiency outcomes might be revealed for the second quarter of 2023/24 in November 2023.
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