Basic Information

Name: Financial Conduct Authority, the (UK) Financial Conduct Authority

Abbreviation: FCA

Website: http://www.fca.org.uk

Agency presentation
UK FCA regulation

The UK Financial Conduct Authority (FCA) is the UK’s financial regulator, but it operates independently of the UK government and obtains funds by charging fees to members of the financial services industry. On December 19, 2012, the “Financial Services Law 2012” was approved by the royal family and became effective on April 1, 2013. The bill established a new regulatory framework (FCA) for financial services and abolished the Financial Services Authority (FSA). FCA supervises financial companies that provide services to consumers and maintains the integrity of the UK financial market, focusing on the supervision of retail and wholesale financial service companies.

FCA is responsible for overseeing banking, insurance and investment businesses, including securities.

The UK is one of the countries with the most complete and sound financial services in the world, and through the Financial Conduct Authority (FCA), all financial institutions registered in its territory are strictly supervised.

FCA will have a lower tolerance for risk than FSA, and will be more inclined to take preventive measures rather than sit back and watch damage occur. This method will also mean more use of judgment, that is, professional knowledge to judge whether harm to consumers is likely to occur, and corresponding intervention based on this forward-looking analysis.

More information

Supervised company
ThinkMarkets, Lianda, Oufu Market, ADS Securities, BMFN Bomei, GKFX Jiekai Finance, HY Industrial Investment, Financial Circle, AxiTrader, ICM capital, Pepperstone, Pepperstone, Forex, FXCM FXCM, MBG (Aetos), XM, INFINOX, ASCOT PRIME, FxPro Puhui

Regulatory characteristics
FCA will be less tolerant of risks, and will be more inclined to take preventive measures rather than sit back and watch damage occur. This method will also mean more use of judgment, that is, professional knowledge to judge whether harm to consumers is likely to occur, and corresponding intervention based on this forward-looking analysis.

Introduction to Regulators
The British Financial Services Authority (FSA) has been replaced by two new regulatory agencies since 2013. They are the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Among them, the supervision of brokers will all be transferred from FSA to FCA.

Regulatory responsibilities
Responsible for overseeing banking, insurance and investment businesses, including securities and futures. The Bank of England and the Bank of England (BOE) are both under the Ministry of Finance. The FSA is responsible for financial management, while the main task of BOE is to maintain financial stability. The UK is currently the country with the most complete and sound financial services in the world, and through the Financial Services Supervision Agency (FSA), all financial service institutions registered in its territory are strictly supervised.

How to complain
Call us: 0845 606 1234 From abroad: +44 20 7066 1000 Typetalk: 18001 0845 606 1234 Email: consumer.queries@fsa.gov.uk

How to check
Open the UK FSA search website: http://www.fsa.gov.uk/register/firmRefSearch.do (Note: Because this website is a British government website, due to the time difference, it is generally difficult to open in the morning hours in China. It can be opened smoothly in the afternoon) A legal gold and foreign exchange trading company must have Notices: Able to hold and control client money in the “Basic Information” page. (Allow to hold and control client money) The operating authority of a regular gold and foreign exchange company must have : Rolling spot forex contract (real-time foreign exchange transactions, that is, foreign exchange margin trading business).

How to regulate
The maintenance of financial order in accordance with the “Financial and Market Services Act 2000” of the United Kingdom includes four aspects: (1) Maintaining the confidence of the British financial market and the industry. (2) Promote the public’s understanding of the financial system and understand the benefits and risks of different types of investments and financial transactions. (3) Ensure that the supervised institution has appropriate operating capabilities and a sound financial structure to protect investors. At the same time, educate investors to correctly understand investment risks. (4) Supervise, prevent and combat financial crimes.