From The Jolly Contrarian
Jump to navigation Jump to search

The Financial Conduct Authority (FCA) is responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury, although it operates independently of government. The FCA will regulate financial firms providing services to consumers and maintain the integrity of the U.K.’s financial markets. It will focus on the regulation of conduct by both retail and wholesale financial services firms.

On 19 December 2012, the Financial Services Act, 2012 received royal assent abolishing the FSA with effect on 1 April 2013. Its responsibilities will be split between the Prudential Regulatory Authority and the Financial Conduct Authority.


See also