This is our current cost benefit analysis (CBA) framework. We consider the robust consideration of economic evidence as a vital component of delivering outcomes-focused policy. CBAs are an important tool that can help us consider the likely impacts of our proposed interventions. We publish our CBA framework - a live document that we may revise and update as required - to transparently set out why, how and when we use CBAs.
The Financial Services and Markets Act 2023 (FSMA 2023) introduced additional CBA accountability requirements (building on pre-existing ones in FSBRA 2013) on the PSR. Among these is the publication of a statement of policy on our use of CBAs. This current CBA framework explains our existing approach, which has been in place prior to the introduction of the new requirements. We will continue to apply this approach to our work until such time as the incoming FCA CBA Panel is able to advise on our proposed statement of policy on CBAs, which we will consult on publicly.