The 2024 FCA and Practitioner Panel Survey Launched

The FCA and Practitioner Panel joint survey will be sent to a sample of regulated firms to gather feedback on how the industry is regulated.

The Practitioner Panel survey is carried out, on behalf of the FCA, by Verian (formerly known as Kantar Public), an independent social research organisation. This year, the survey will be sent to all fixed firms and an increased sample of 25,000 flexible firms.
The survey forms part of the FCA’s aim to be an “innovative, assertive, and adaptive regulator”; feedback is designed to help detect and understand issues affecting firms, assess the FCA’s approach to regulating the industry, and consider whether changes could be made.
The survey is one of several sources of feedback the FCA uses to evaluate its performance against key areas of its 3-year strategy. The results will be presented to the FCA and Practitioner board and published in summer 2024.
The FCA has asked that, if your firm is requested to participate in the survey, you take time to provide feedback.

Response to survey feedback from last year
In response to the findings of last year’s survey, The FCA has declared that it has taken the following actions:

• Improved authorisation and performance and processing times for firms
• Introduced new Cost Benefit Analysis Panel in 2024 to provide advice on cost/benefit analysis and will use firm feedback to ensure it acts proportionately when introducing new policies.
• Ensured more opportunities for Fintech and Regtech sector firms to be supported during 2024. The FCA will inform its future work programme through the Innovation Advisory Group.
• Analysed feedback on data requests from firms, including how long they take to complete and any associated costs incurred.

With the FCA having been keen to embrace a data-driven approach in recent years, the survey offers a valuable opportunity to provide qualitative, individualised feedback and allow you to have your say on how the industry is regulated, suggest changes or adjustments, and flag common issues affecting businesses.

Additional Information
In accordance with the Market Research Society Code of Conduct, Verian treats all survey responses in the strictest confidence. Personal information will not be published or shared with the FCA or the Panels.
Should your firm be requested to participate in the survey, and you have any questions, contact Verian on 0800 015 0302 or fcappsurvey@veriangroup.com. Alternatively, you can contact the FCA Supervision Hub on 0300 500 0597.