The Financial Conduct Authority (FCA) is an independent public body that regulates the financial services industry in the UK. The FCA’s role is to ensure that financial services companies operate honestly, and that consumers are treated fairly. The FCA’s objectives include:
Protecting consumers: The FCA protects consumers from harm caused by bad conduct in financial services.
Enhancing market integrity: The FCA supports a healthy and successful financial system.
Promoting competition: The FCA promotes effective competition in the interests of consumers.
The FCA was established in 2013 by the UK government, and is funded by the firms it regulates. The FCA has the power to apply and enforce regulations and legislation, and can investigate and ban individuals or businesses that break the rules.