The Financial Conduct Authority (FCA) is the regulatory body in the UK responsible for overseeing and supervising financial markets and firms to ensure their integrity and consumer protection.
The FCA sets and enforces rules, regulations and standards to promote fair and transparent practices in the financial industry.
For instance, if you have a savings account with a financial institution in the UK, the FCA plays a crucial role in safeguarding your interests.
They regulate and monitor the financial institution to ensure that it operates correctly, treats customers fairly and adheres to established regulations.
The FCA also provides guidance and information to consumers, empowering them to make informed financial decisions and protect their savings.
Their oversight helps maintain the stability and trustworthiness of the financial sector, enhancing consumer confidence in savings products and services in the UK.