Chapter 3: Accountability of regulators Cooperation of FCA, PRA and others Section 40: Duty to co-operate and consult in exercising functions
This section introduces a statutory requirement for the FCA, the Financial Ombudsman Service and the FSCS to cooperate on issues which have significant implications for each other or the wider financial services market.
	Subsection 3 requires the FCA, the Financial Ombudsman Service and the FSCS to publish a statement explaining how they will comply with the duty.
	Subsection 6a requires the FCA, the Financial Ombudsman Service and the FSCS to publish an annual report on their compliance with the duty. This report must also describe representations the authorities have received from stakeholders on their compliance with the duty to cooperate on wider implications issues (subsection 7).