Which entity is NOT a regulator of financial services in the UK?

Study for the BTEC Business – Personal Finance Exam. Test your knowledge with interactive quizzes and insightful explanations. Prepare effectively and excel in your exam!

The Consumer Financial Protection Bureau (CFPB) is a U.S. government agency that was established to oversee and enforce consumer financial laws in the United States. Its focus is on protecting consumers from unfair, deceptive, or abusive practices and ensuring they have access to important financial information.

In contrast, the other entities listed are UK regulators. The Financial Conduct Authority (FCA) is responsible for regulating financial markets and firms to ensure that consumers are protected, while the Office of Fair Trading (OFT) was responsible for promoting competition and protecting consumer interests in various sectors, including financial services. The Financial Services Compensation Scheme (FSCS) provides protection to consumers in the event that financial services firms fail, ensuring that consumers can recover their deposits.

Since the CFPB operates within the context of U.S. law and regulations, it does not have any authority or regulatory function over financial services in the UK, making it the correct choice for the question.

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