FCA Speech: The business of social purpose

Industry News | 26/11/20

Speaker: Jonathan Davidson, Executive Director of Supervision – Retail and Authorisations
Delivered: 26 November 2020

• Culture remains a key area of focus for the FCA.
• During the coronavirus (Covid-19) crisis, financial services firms have supported consumers, and been part of the solution rather than the problem, providing an opportunity to rebuild trust in financial services moving forwards.
• While coronavirus might be the most immediate challenge firms are facing, it isn’t the only one – the need to break barriers around diversity and inclusion, and climate change and sustainability are key challenges that also require urgent attention.
• Firms with healthy cultures – cultures that are purposeful, safe, and support environments that are diverse and inclusive – will be better placed to tackle these challenges.
• The financial services industry has the opportunity to make real progress, driven by social purpose.