Welcome to Financial Services AuthorityWe aim to make markets work well – for individuals, for business, large and small, and for the economy as a whole.
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The Financial Conduct Authority is the conduct regulator for 59,000 financial services firms and financial markets in the UK and the prudential regulator for over 18,000 of those firms. |
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What we do
Financial markets need to be honest, fair and effective so that consumers get a fair deal. We aim to make markets work well – for individuals, for business, large and small, and for the economy as a whole. We do this by regulating the conduct of more than 59,000 businesses. We are also the prudential regulator for more than 18,000 of these businesses. The Prudential Regulation Authority(link is external) (PRA) is the prudential regulator of around 1,500 banks, building societies, credit unions, insurers and major investment firms. As a prudential regulator, it has a general objective to promote the safety and soundness of the firms it regulates. We were established on 1 April 2013, taking over responsibility for conduct and relevant prudential regulation from the Financial Services Authority. |
Why we do it
We are responsible for regulating a sector which plays a critical role in the lives of everyone in the UK and without which the modern economy could not function. From children’s ISAs to pensions, direct debits to credit cards, loans to investments – how well financial markets work has a fundamental impact on us all. UK financial services employ over 2.2 million people and contribute £65.6bn in tax to the UK economy. If UK markets work well, competitively and fairly they benefit customers, staff and shareholders, and maintain confidence in the UK as a major global financial hub. Our role is to help ensure this happens. |