Financial Conduct Authority

Established on 1 April 2013, the Financial Conduct Authority took over conduct regulation and relevant prudential responsibilities from the Financial Services Authority. It is accountable to HM Treasury and Parliament and works alongside the Prudential Regulation Authority and other domestic and international regulators.

The FCA sets standards for financial-services firms, authorises and supervises businesses, investigates misconduct, enforces rules and develops regulatory policy. Its remit spans retail and wholesale markets, including banking, insurance, investments, payments, consumer credit and emerging financial technologies.

Its core strengths are conduct supervision, consumer protection, market-integrity work and competition policy. The FCA also describes itself as a data-led regulator, with current priorities including financial crime, operational resilience, innovation and supporting sustainable growth.