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The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. [ 2 ]
The compliance oversight function is the function of acting in the capacity of a director or senior manager who is allocated by the Financial Services Authority the function of reporting to the governing body to ensure compliance with the rules set out in Conduct of Business, Collective Investment Schemes and Client Assets related operations.
The Financial Conduct Authority Handbook is a set of rules required to be followed by banks, insurers, investment businesses and other financial services in the United Kingdom under the Financial Services and Markets Act 2000. It is administered by the Financial Conduct Authority in London.
Consumer Duty is a standard introduced by the Financial Conduct Authority, in the UK, intended to improve Consumer protection for financial-services firms in the UK. [1] The changes were announced in 2021 and officially came into force on 31 July 2023.
The Financial Conduct Authority gathered data from 34 banking firms to better understand bank account closures and access.
It is an operationally independent body, set up under the Financial Services and Markets Act 2000 and funded by a levy on authorised financial services firms. The rules of the FSCS are made by the Financial Conduct Authority (FCA) and are contained in its handbook. [2] The FSCS board of directors is appointed by and ultimately accountable to ...
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