Financial Conduct Authority (FCA) | Practical Law

Financial Conduct Authority (FCA) | Practical Law

Financial Conduct Authority (FCA)

Financial Conduct Authority (FCA)

Practical Law UK Glossary 5-107-5761 (Approx. 6 pages)

Glossary

Financial Conduct Authority (FCA)

The UK financial services regulator responsible for the regulation of the conduct of firms authorised under the Financial Services and Markets Act 2000 (FSMA). The FCA is also responsible for:
  • The regulation of conduct in retail and wholesale financial markets.
  • Supervision of the trading infrastructure that supports retail and wholesale financial markets.
  • The prudential regulation of firms not regulated by the Prudential Regulation Authority (PRA).
The FCA was formally established on 1 April 2013, following amendments to FSMA made by the Financial Services Act 2012. On that date, the majority of the powers and functions of the Financial Services Authority were transferred to the PRA and the FCA.
For further information, see Practice note, FCA: role, governance and powers.