Investor's wiki
en English
Navigation
Home Glossary
InvestingStocksBondsCryptoPersonal FinanceFundamental AnalysisTechnical AnalysisTradingBankingTaxes
Disclaimer Terms of Use Privacy Policy Cookie Policy
Navigation
Home Glossary
InvestingStocksBondsCryptoPersonal FinanceFundamental AnalysisTechnical AnalysisTradingBankingTaxes
Disclaimer Terms of Use Privacy Policy Cookie Policy

Financial Conduct Authority (UK) (FCA)

Financial Conduct Authority (UK) (FCA)
InvestingLaws and RegulationsSECSec and Regulatory Bodies

What Is the Financial Conduct Authority (UK)?

As the regulator of the financial services industry in the United Kingdom, the Financial Conduct Authority (FCA) is responsible for the working of the U.K's. financial markets. The goal of the organization is to guarantee genuine and fair markets for people, organizations, and the economy as a whole. The Authority does this by protecting consumers, protecting the financial markets, and advancing competition. The FCA falls under the domain of the U.K's. Treasury and Parliament.

Grasping the Financial Conduct Authority (UK) (FCA)

The Financial Conduct Authority (FCA) has three operational objectives in support of its strategic goal — to safeguard consumers, to secure and improve the integrity of the U.K. financial system, and to advance sound competition between financial services suppliers in the interests of consumers. The FCA was laid out on April 1, 2013, and assumed the responsibility for conduct and significant prudential regulation from the Financial Services Authority. The FCA's statutory objectives were set up under the Financial Services and Markets Act 2000 and amended by the Financial Services Act 2012. The Act of 2012 rolled out major improvements to the manner in which financial services firms are regulated in the United Kingdom, and was acquainted with guarantee that the financial sector oversees and contains risks all the more really following the financial crisis of 2008 to 2009.

Financial Conduct Authority Powers

The FCA has clearing powers to uphold its command, including rule-production and insightful and enforcement powers. The FCA additionally has the power to raise fees, which is fundamental since it is an independent body and receives no government funding. The FCA, consequently, charges fees to authorized firms that carry out activities regulated by the FCA and different bodies, for example, recognized investment exchanges.

The Functions of the Financial Conduct Authority (UK) (FCA)

As per the FCA's website, the authority manages the conduct of 59,000 financial services firms and financial markets in the United Kingdom. The goal is to guarantee legitimate and fair markets for people, organizations, everything being equal, and the economy as a whole. The Authority does this by protecting consumers, protecting the financial markets, and advancing competition. The FCA is controlled by the U.K's. Treasury and Parliament.

Financing the Financial Conduct Authority (UK) (FCA)

The FCA is an independent public body that charges to fees to the firms it controls. Periodic fees charged to firms give the vast majority of the funding required by the FCA to carry out its statutory duties. These fees depend on factors, for example, the type of regulated activities embraced by a firm, the scale of those activities, and the regulatory costs incurred by the FCA.

Features

  • The FCA is responsible for the working of the U.K. financial markets.
  • The FCA charges fees to the firms that it directs.
  • The Authority means to guarantee legit and fair markets by protecting consumers, protecting the financial markets, and advancing competition.
  • The FCA is a public body under the domain of the U.K's. Treasury and Parliament.