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The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. [3] It focuses on the regulation of conduct by both retail and wholesale financial services firms. [4] Like its predecessor the FSA, the FCA is structured as a company limited by guarantee. [5]: 140
The Financial Ombudsman Service is an ombudsman in the United Kingdom.It was established in 2000, and given statutory powers in 2001 by the Financial Services and Markets Act 2000, to help settle disputes between consumers and UK-based businesses providing financial services, such as banks, building societies, insurance companies, investment firms, financial advisers and finance companies.
Super-complaints have also specifically been introduced for the financial markets in the UK under the aegis of the Financial Conduct Authority (FCA). [2] The Financial Services and Markets Act 2000 (FSMA) provides that certain consumer bodies may complain to the FCA about features of a market for financial services in the UK that may be ...
Compensation can be in any form and by any method it determines is appropriate. [1] It is an operationally independent body, set up under the Financial Services and Markets Act 2000 and funded by a levy on authorised financial services firms. The rules of the FSCS are made by the Financial Conduct Authority (FCA) and are contained in its ...
The Financial Conduct Authority Handbook is a set of rules required to be followed by banks, insurers, investment businesses and other financial services in the United Kingdom under the Financial Services and Markets Act 2000. It is administered by the Financial Conduct Authority in London.
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
The following is a list of regulators in the UK. Regulators exercise regulatory or supervisory authority over a variety of endeavours. In addition, local authorities in the UK provide regulatory functions in a number of areas. Professional associations also act to regulate their memberships. The UK is also bound by a number of European and ...
The compliance oversight function is the function of acting in the capacity of a director or senior manager who is allocated by the Financial Services Authority the function of reporting to the governing body to ensure compliance with the rules set out in Conduct of Business, Collective Investment Schemes and Client Assets related operations. [10]