Our priorities are informed by our overarching aim for the nancial system to be resilient and trustworthy, for it to sustainably serve the needs of the economy and its customers and for rms and individuals within the system to adhere to a culture of fairness and high standards.
In 2021, our nancial regulation strategic priorities include:  1. maintaining our supervisory focus on nancial and operational resilience of rms and markets to ensure they continue to support households and business through the economic disruption caused by COVID-19; and can support the recovery from it;  2. seeking to improve governance and risk management capabilities in rms and markets to improve culture and decision-making and ensure that risks are identi ed and effectively mitigated, including the risks from disruptive change such as climate change; 3. seeking to ensure that detrimental consumer outcomes are identi ed, prevented or mitigated, including those arising from the pandemic, such as business interruption insurance, where extensive supervisory engagement continues to ensure rms pay valid claims; and differential pricing, where we have set out a number of immediate requirements to insurers as we work towards publication of our full ndings, together with a potential consultation on proposals to further protect consumers, planned for July 20213; and 4. resolving both pandemic related and longer term distressed debt in the system, ensuring the fair treatment of borrowers in nancial distress and preserving nancial stability.