FCA launches phase two of enhanced oversight programme for newly authorised firms
The Financial Conduct Authority has confirmed the start of phase two in its Early and High Growth Oversight programme and an expansion to feature 300 firms.
From October 2021 to March this year the regulator piloted closer supervision Early Oversight with 32 businesses and committed this April to enlarging the programme.
The new function is designed to assist newly-authorised firms adapt to the FCA’s supervision as they start up and grow and to protect consumers from bad practice.
The watchdog acknowledged that newly-authorised firms can sometimes struggle with its rules.
“Many of these firms can grow quickly in their early stages, meaning that
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