Secondary international competitiveness and growth objective (SICGO) metrics

We are committed to publishing metrics that show the impact of our work.

Our outcomes

In our statement on the secondary objective[1], we welcomed increased accountability and transparency on how we are delivering the objective through metrics. We also set out our intention to update our existing Outcomes and Metrics framework to take the new objective into account.

Following the Treasury’s call for proposals on measuring the success of our secondary objective, we agreed to publish a set of metrics[2]. We have supplemented these with further metrics from our existing framework, where they can contribute to a more complete picture of our impact on growth and competitiveness.

Read our first SICGO report (PDF)[3]

SICGO metrics

The metrics are split into 4 themes:

Authorisations and operational efficiency

We provide detailed figures on our authorisations activities. This includes the number of new authorisations for each sector and the number of individuals in scope of the Senior Manager and Certification Regime. Other figures provide an insight into our internal processes including our responses to pre-vetting listed issuers’ documents and our staff turnover.

Policy and regulatory impact

This page captures the wider impact of our work on consumers, the firms we regulate, the UK financial system and the UK economy.

Data collection

This page represents the first time we have released significant detail on the volume of our data requests to industry, and how long we give firms to respond. This theme also includes survey data that captures firms’ sentiments towards our data collection activities.

Digital and innovation

We provide detail on applications to our innovation pathways and regulatory sandbox, including a breakdown of applicants by sector and technology used, as well as common reasons applications are refused.

This page captures the wider impact of our work on consumers, the firms we regulate, the UK financial system and the UK economy.

Theme 1: Authorisations and Operational efficiency

Theme 2: Policy and regulatory impact

Theme 3: Data collection

Theme 4: Digital and innovation

After the initial publication of these pages, we found that the rounding used in the original analysis was inconsistent. As a result, we updated a few metrics. However, these changes only cause a 1% variation in each case and do not affect the overall message of the report.

First published: 29/07/2024 Last updated: 04/11/2024