Financial Conduct Authority—objectives and powers

Published by a UU��ֱ�� Financial Services expert

Practice notes

Financial Conduct Authority—objectives and powers

Published by a UU��ֱ�� Financial Services expert

Practice notes

This Practice Note explores the strategic and operational objectives and powers of the financial conduct authority (FCA). It discusses the FCA’s objectives and powers generally and considers changes introduced by the Financial Services and Markets Act 2023 (FSMA 2023).

The FCA was established on 1 April 2013, taking over responsibility for conduct and relevant prudential regulation from the Financial Services authority (FSA). For more information on the FCA and the other UK financial services and markets regulators, see Overview: UK regulators—financial services—overview and Diagram: UK financial services regulatory structure diagram. Guidance on the FCA’s functions and how the FCA interacts with other regulators and bodies is set out in Practice Note: Financial Conduct Authority—functions. For more information on the FCA’s corporate governance and constitution, see Practice Note: FCA—corporate governance, structure and constitution.

Strategic and operational objectives of the FCA

The FCA’s strategic and operational objectives-overview

The FCA has one overarching strategic objective—to ensure that the relevant markets for financial services function well. This is supported by the following three operational objectives:

•
secure an appropriate degree of protection

Jurisdiction(s):

United Kingdom

Key definition:

Financial Conduct Authority definition

What does Financial Conduct Authority mean?

The Financial conduct authority (fca), previously known as the consumer Protection and Markets Authority (CPMA), an agency formed as one of the three successors to the unlamented Financial Services Authority. The agency will regulate financial firms providing services to consumers and maintain the integrity of the UK's financial markets.

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