The Financial Services and Markets Act (FSMA) 2023 introduced new, secondary objectives for the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) to facilitate the medium-to-long term growth and international competitiveness of the UK economy.
The FCA has published additional metrics to track progress and support scrutiny of its work to embed and advance its new secondary growth and competitiveness objectives. It describes its impact using input measures (what it does internally), output measures (what action/direct effect this has externally), and outcomes (the cumulative impact of its actions on competitiveness and growth).
