The Financial Conduct Authority (or FCA) is an independent body that regulates the UK’s financial services sector.
Its purpose is to protect consumers and ensure that financial markets work well, fairly and competitively.
Established in 2013, the FCA regulates the conduct of 58,000 businesses and is the prudential supervisor of 49,000 businesses.
They work closely with the Prudential Regulation Authority (PRA) of which promotes the ‘safety and soundness’ of financial services.
Nearly all financial service activities must be authorised by the FCA while banks, mutual societies, and building societies will also be regulated by the PRA.
Continue reading as we explain in more detail the role of the Financial Conduct Authority (FCA) and what they do to protect consumers...