Source · Select Committees · Financial Services Regulation Committee
Recommendation 14
14
Paragraph: 90
Concerningly, we received evidence that the FCA and PRA are slower to process authorisations than...
Conclusion
Concerningly, we received evidence that the FCA and PRA are slower to process authorisations than regulators in competing jurisdictions, particularly in key areas such as the authorisation of new products, senior managers, and branches. This has negatively affected the UK’s international competitiveness, resulting in the loss of business and investment.
Paragraph Reference:
90
Government Response
A response document is linked to this report, dated 3 September 2025. Response attribution to this conclusion has not been verified. Read the response document ↗