FCA sets out data ambitions, challenges firms to keep pace

Data Analytics

The U.K.’s National Audit Office (NAO) highlighted “significant” delays between the Financial Conduct Authority (FCA) finding an issue and acting upon it.

A recent NAO report noted delays of up to three years between the FCA requiring crypto-asset firms to register (January 2020) and the date when it began to act against illegal crypto ATMs (February 2023).

Gareth Davies, head of the NAO, said the regulator needed to become better at using data.

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