Andrew Bailey looks to reboot FCA's ‘mission’

New chief executive seeks to clarify approach after stumbles in past years, admitting global understanding of conduct regulation is still at an early stage

Andrew Bailey
Andrew Bailey: "It is quite interesting that the field is rather more open, and I think that gets reflected into policy"

Four months into the job, the UK's chief conduct regulator has sought to clarify the organisation's "mission", after a series of mistakes dogged the early years of the Financial Conduct Authority (FCA).

Andrew Bailey, who became chief executive of the FCA in July, said the watchdog has limited resources and so has to be clear on its priorities. He also noted the global study of the "principles and theory" of conduct regulation is at an early stage, leaving authorities to figure out their own app