The FCA said its priority over the coming years for investment management was to ensure competition worked well.
The Investment Association (IA) supported the focus of the new plan going forward.
Chris Cummings, chief executive of the IA, said it was vital the UK regulators helped asset managers flourish in a post-Brexit world.
He said: “We support the focus of the FCA’s mission statement and business plan on ensuring that the entirety of the UK’s financial sector works in the best interests of consumers and society as a whole.
“We also welcome the regulator’s objective to have a more transparent and open on-going dialogue with industry and other key stakeholders.
“We will work with our members and the regulator to ensure that the UK’s £5.7trn asset management industry continues to operate in the best interests of the millions of investors it serves in the UK and across the globe.”
