FCA To Launch Oversight Support For New Firms After Pilot

By Ronan Barnard (April 26, 2022, 7:14 PM BST) -- The U.K.'s financial watchdog announced on Tuesday that it is expanding its program for recently authorized finance companies to ensure they comply with regulations and to shutter "problem firms."

The Financial Conduct Authority said its Early and High Growth Oversight program will expand to 300 newly authorized finance businesses by the end of 2023. The 300 companies will be selected by the FCA and will be contacted by the end of the year.

The scheme will also give the FCA an opportunity to closely supervise these new companies and identify misconduct at an early stage, protecting the market from "problem firms"...

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