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Legal Terms -Financial Conduct Authority (FCA)
A corporate entity established under the Financial Services Act 2012 as one of two successor organizations to the Financial Services Authority (FSA), the other being the Prudential Regulation Authority (PRA). The objective is to oversee the delivery of financial services and markets. The Financial Services and Markets Act 2000, which formed the FSA, includes a broad restriction against any individual engaging in regulated activities unless approved or exempt. Regulated operations including investment advisory services, stockbroking, deposit acceptance, and broader consumer transactions related to mortgages, insurance, and fundamental banking services. Carrying out a controlled activity without authority constitutes an offense, unless exempted. Individuals in violation may be unable to execute transactions, and investors who incur losses may be eligible for reimbursement. The FCA possesses investigative authority for financial crime (e.g., insider trading), management of illicit proceeds, and market abuse. The FCA possesses the authority to investigate violations of the general prohibition as well as the characteristics of the business or the ownership and control of an authorized individual.
A corporate entity established under the Financial Services Act 2012 as one of two successor organizations to the Financial Services Authority (FSA), the other being the Prudential Regulation Authority (PRA). The objective is to oversee the delivery of financial services and markets. The Financial Services and Markets Act 2000, which formed the FSA, includes a broad restriction against any individual engaging in regulated activities unless approved or exempt. Regulated operations including investment advisory services, stockbroking, deposit acceptance, and broader consumer transactions related to mortgages, insurance, and fundamental banking services. Carrying out a controlled activity without authority constitutes an offense, unless exempted. Individuals in violation may be unable to execute transactions, and investors who incur losses may be eligible for reimbursement. The FCA possesses investigative authority for financial crime (e.g., insider trading), management of illicit proceeds, and market abuse. The FCA possesses the authority to investigate violations of the general prohibition as well as the characteristics of the business or the ownership and control of an authorized individual.
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