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The FCA works alongside the Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements for the financial sector. The FCA is responsible for the conduct of around 58,000 businesses which employ 2.2 million people and contribute around £65.6 billion in annual tax revenue to the economy in the United Kingdom ...
If the principal purpose of the firm is to carry on regulated activities, each person with responsibility for directing its affairs performs the FCA controlled function. If the principal purpose of the firm is other than to carry on regulated activities, a person performs the small friendly society function only to the extent that he has ...
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
COMPLY SMCR enables firms to seamlessly manage Senior Managers and Certification Regime (SMCR) obligations as required by the UK’s Financial Conduct Authority (FCA). COMPLY Program Management Risk Assessment provides a comprehensive report of risk areas and documents mitigation plans. Together, these solutions allow firms to foster a culture ...
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.
In August 2020, Archax announced becoming the first FCA-regulated digital securities exchange, broker and custodian in the UK. [citation needed] According to Bloomberg, Archax had asked the UK Financial Conduct Authority to regulate it. [11] [12] [13] In October, Archax closed its seed raise with a total funding of $8 million. [14] [15] [16] [17]
UK Parliament passed the proposed legislation in December 2013, leading to the FCA and Prudential Regulation Authority applying the legislation to the banking sector from March 2016. Parliament made further legislative changes in May 2016, extending the regime to all FSMA authorised firms. SM&CR replaced the preceding Approved Persons Regime.
The Official List is a list of securities issued by companies for the purpose of those securities being traded on a UK regulated market for the instruments listed in Section B of the Annex to the Investment Services Directive. An example of a UK regulated market is the London Stock Exchange's Main Market.