FCA Discussion Paper on redefining purpose in financial services

By Lora Benson | Mar 05, 2020

FCA Discussion Paper on redefining purpose in financial services: 
sector responses

As part of the FCA’s published Discussion Paper to explore the role of ‘purpose’ as it relates to the culture of financial services, the CISI led a series of events around the UK in late 2019 to gain member insight and has contributed to two essays on this theme:

  1. “Restoring Trust – the case for the Retail Financial Services Industry to rethink its purpose. Facilitated by Simon Culhane, Chartered FCSI, CISI CEO, a series of roundtables were held across the UK, with senior sector individuals, supported by Paul Feeney, Quilter CEO and Mark Goyder, founder of Tomorrow’s Company. This essay proposes a new Statement of Purpose for sector firms, based on those roundtable discussions.
  2.  CBA Purpose Essay - Final -  CISI was part of the joint Chartered Body Alliance submission on Purpose, which was also informed by the roundtable discussions.

The full FCA Discussion Paper is here