Financial regulator publishes new business plan

The UK’s Financial Conduct Authority (FCA) published on 5 April its business plan for 2023/24, which includes measures to reduce and prevent financial crime. The FCA’s latest business plan, which complements its three-year strategy, details measures that will be taken in the next 12 months to combat financial crime. Notably, the FCA will strengthen the authorisation process, improve its assessments of regulated firms and hire more staff to investigate and prosecute offenders. Later in 2023, the FCA will publish details on the progress made in regard to the outcomes and performance metrics set out in its three-year strategy.