The Financial Conduct Authority (FCA) is a regulatory body in the United Kingdom, responsible for the oversight of financial markets, firms, financial advisors, and other financial entities. It aims to ensure that markets work well and consumers are protected.
Here's a basic guide to FCA regulations:
Scope of the FCA:
The FCA regulates a wide range of financial services, including banks, credit unions, insurance companies, investment firms, pension funds, and mortgage lenders. It also oversees conduct related to crypto assets.
Key Responsibilities of the FCA:
Protecting Consumers: The FCA is responsible for protecting consumers and ensuring fair treatment. This involves making sure that financial markets are honest and transparent, and that consumers are provided with appropriate products and services.
Protecting Financial Markets: The FCA is tasked with maintaining the integrity of the UK’s financial markets. It takes action to prevent practices such as insider trading or market manipulation that can harm confidence in these markets.