The FCA, or Financial Conduct Authority, is the United Kingdom\u2019s financial regulatory body. <\/span><\/p>\n The FCA operates independently of the UK government. Its financing is handled by fees levied on businesses and members of the financial services industry.<\/span><\/p>\n An independent, non-governmental body, the Financial Conduct Authority is responsible for regulating the UK\u2019s financial services industry.<\/span><\/p>\n It was established in 2013 following the Financial Services Act (2012). And replaced the Financial Services Authority (FSA). <\/span><\/p>\n The FCA has the new regulatory framework. <\/span><\/p>\n Also has the mandate to maintain both the stability of the UK\u2019s financial markets. Therefore, the safe conduct of its financial services firms.<\/span><\/p>\n The structure of the FCA\u2019s regulatory authority takes in the Bank of England\u2019s Prudential Regulatory Authority, and the Financial Policy Committee. <\/span><\/p>\n This regulatory body is responsible for the conduct of around 58,000 businesses. Which employ 2.2 million people and contribute around \u00a365.6 billion in annual tax revenue to the UK economy.<\/span><\/p>\n This\u00a0regulatory body has the power to introduce and enforce the rules which govern the UK\u2019s financial services industry. And it may investigate both organizations and individuals suspected of violating them, for example.<\/span><\/p>\n The FCA sets out the minimum standards which financial services products. Such as pensions, credit cards, ISAs, and investments. <\/span><\/p>\n They must meet those standards to enter the markets. And it may force firms to withdraw or change those products which fall short. <\/span><\/p>\n Ultimately, the FCA has the authority to ban financial products for up to a year. And has the right to decide whether to impose an indefinite ban following that period.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" DEFINITION of FCA Financial Conduct Authority The FCA, or Financial Conduct Authority, is the United Kingdom\u2019s financial regulatory body. WHAT IT IS IN ESSENCE The FCA operates independently of the UK government. Its financing is handled by fees levied on businesses and members of the financial services industry. An independent, non-governmental body, the Financial Conduct […]<\/p>\n","protected":false},"author":4,"featured_media":6934,"parent":3020,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"class_list":["post-3304","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"\nWHAT IT IS IN ESSENCE<\/b><\/h4>\n
The FCA has wide-reaching powers which it uses to pursue three operational objectives:<\/span><\/h3>\n
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HOW TO USE<\/b><\/h4>\n