What are the principles of the FCA's regulatory framework based on?

The principles of the FCA's regulatory framework are fundamentally anchored in transparency, accountability, and consumer protection. This underscores the FCA’s commitment to ensuring that financial markets function effectively and that consumers are treated fairly.

Transparency refers to the need for clear communication about financial products and services, allowing consumers to make informed decisions. This is crucial for maintaining trust in the financial system. Accountability ensures that firms take responsibility for their actions, particularly in how they manage consumers' interests and abide by regulations. Consumer protection is central to the FCA's mission, aiming to safeguard consumers from unfair practices and ensuring they have access to appropriate financial products.

In contrast, focusing on market growth and societal impact represents a broader economic view, while maximizing returns for investors primarily caters to the interests of a specific group rather than the general public. The idea of stability of financial institutions, while important, is just one part of the broader responsibility that includes protecting consumers and promoting fair competition in the market. Thus, the combination of transparency, accountability, and consumer protection uniquely encapsulates the FCA's regulatory principles and their commitment to overall market integrity.