FCA SETS OUT A THREE-YEAR STRATEGY TO IMPROVE OUTCOMES THROUGHOUT THE UK

The FCA has today published its new business plan alongside a three-year strategy to improve outcomes for consumers and in markets throughout the UK (Financial Conduct Authority).

The plan, which sets out 13 commitments, will aim to see the regulator move faster in protecting consumers from financial harm and will work to set higher standards and promote competition.

Additionally, for the first time, the regulator will hold itself accountable against published outcomes and performance metrics.

PROPERTY PRICES REACH RECORD HIGH

The average price of a house has increased by 11 per cent over the past year to a new record figure of £282,753 (City A.M). The Halifax House Price Index showed that that prices have increased 1.4 per cent since last month and around £28,113 in just 12 months.

Russell Galley, managing director at Halifax, said that property prices are remaining inflated due to limited supply and increased demand across the nation, despite rising cost of living pressures (Daily Express).

NEWS IN BRIEF

The government's new energy strategy could see up to eight more nuclear reactors delivered on existing sites, as plans suggest up to 95 per cent of the UK's electricity could come from low-carbon sources by 2030. (BBC News).

The FCA has warned Facebook that it must take action to help prevent scam investments, following a surge in fraud appearing on social media (The Telegraph).

Eight of Britain's biggest housebuilders have now committed more than £1.4 billion to pay for remediation work on fire safety for tall buildings (The Times).

European banks are due to meet with European Commission officials today to discuss concerns around the lack of clarity on how to implement EU sanctions on Russia (Financial Times).