Jurisdiction(s):
United Kingdom

Advising on UK FCA supervision and enforcement: roles, powers, authorisation, SM&CR, investigations, penalties, redress, competition leniency, and strategic responses to VREQs/OIREQs and thematic reviews

Published by a LexisNexis Financial Services expert

Practice notes

The Financial Conduct Authority (FCA) is the United Kingdom’s financial regulator, created by an Act of Parliament in 2013. Operating independently of government, it is accountable to HM Treasury and to the UK Parliament, and is funded through fees paid by the financial services industry.

Role

Responsible for conduct and prudential regulation of firms outside the Prudential Regulation Authority’s (PRA) remit, such as solo‑regulated firms.
Acts as the conduct regulator for insurers, deposit takers and certain systemically important investment firms that are also regulated by the PRA (dual‑regulated firms).
Regulates consumer credit and claims management companies, and oversees the UK’s financial markets.
Supervises authorised firms, ensures adherence to financial rules, and undertakes enforcement against non‑compliance.
Has powers to issue fines, revoke authorisations, approvals and permissions for particular activities, and prosecute offences under the Financial Services and Markets Act 2000 (FSMA 2000).
Maintains a public register of service providers and products accessible to users. For more detail, see Practice Notes: Financial Conduct Authority—functions and The Financial Services Register.

Objectives

The FCA’s strategic objective is to ensure financial services markets function well...

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Web page updated on 21/05/2026

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