The regulations made by the FCA, and the manner in which it supervises and enforces those regulations, could have a significant impact on financial inclusion. However a primary role of the FCA should not be to carry out social policy, or to fill the gaps where it is Government that ought to be stepping in and addressing these issues. Government, community, and individuals all have a role to play in tackling poverty, an issue which is far broader than regulation.

The regulations made by the FCA, and the manner in which it supervises and enforces those regulations, could have a significant impact on financial inclusion. However a primary role of the FCA should not be to carry out social policy, or to fill the gaps where it is Government that ought to be stepping in and addressing these issues. Government, community, and individuals all have a role to play in tackling poverty, an issue which is far broader than regulation. Type: conclusion | Number: 11 | Paragraph: 89 | Response status: under_consideration Government response: The government notes this recommendation. As I set out in my letter of 25 July, the government’s position is that the FCA’s existing objectives and regulatory principles are already well-aligned with the government’s objectives on financial inclusion. The government does not consider that a separate