FCA - a renewed UK regulator

The European economy is of particular interest to traders because the euro is considered to be the only currency that truly opposes the U.S. dollar. And that is why assessing the economic potential of the region, as well as the degree of control over companies that provide investment and other financial services, is a subject of constant discussion and attention. Today, fortrader.org magazine will look at the auxiliary brokerage regulatorThe United Kingdom's successor to the Financial Services Authority - FCA.

UK Financial Conduct Authority - FCA

• Full name: UK Financial Services Authority
• English title: Financial Conduct Authority
• Abbreviated title: FCA
• Subordinate countries: UK
• Funding: through the receipt of funds from companies in the financial industry
• Degree of trust of traders: tall
• Official website: www.fca.org.uk

One of the main supervisory organizations in England in the financial sector, until recently, was the FSAwhich, along with the Bank of England, regulated the activities of investment and brokerage firms. Today, its successor is FCA. It saw the light of day in mid-Spring 2013 and operates autonomously from the UK governing bodies. Financing of the activity is provided by the proceeds from the business industry participants. The main task of the organization is to maintain the integrity of the British financial markets and regulate the activities of investment and brokerage companies.

Duties and powers of the FCA

At FCA The following responsibilities are assigned:

• regulate behavior aimed at popularizing financial services;
• define the standards and requirements for investment products;
• investigate both organizations and individuals to resolve financial disputes;
• prohibit the provision of financial products if they do not meet the requirements;
• Define standards and requirements for financial reporting.

So, the UK FSA has a considerable list of powers and regulates investment firms and brokerage firms at an auxiliary level. The duties and functions assigned to FCAall in accordance with the regulations FSA and the Bank of England, despite the fact that it operates completely autonomously from the state governing bodies. In this regard, this regulator, as well as the regulators under its control brokers, has a high level of confidence on the part of traders.