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Financial Conduct Authority (FCA)

The Financial Conduct Authority (FCA) is a regulatory body in the United Kingdom responsible for supervising and regulating financial institutions to ensure that they operate in a fair and transparent manner and protect the interests of consumers.

The FCA was established in 2013 as a result of the Financial Services Act 2012, which replaced the Financial Services Authority (FSA). It operates independently of the government and is funded by the financial services industry through fees and levies.

The FCA’s objectives are to protect consumers, ensure market integrity, promote competition, and facilitate competition in the financial services industry. To achieve these objectives, the FCA sets rules and regulations for financial institutions, conducts investigations and enforcement actions, and provides guidance and advice to consumers and the industry.

The FCA oversees a wide range of financial institutions, including banks, insurance companies, asset managers, and investment firms. It also regulates financial markets, including the London Stock Exchange and other trading platforms.

The FCA works closely with other regulatory bodies in the UK and internationally to ensure that financial regulation is coordinated and effective in addressing emerging risks and challenges in the global financial system.