Which organization acts as the conduct regulator for financial services firms in the UK?

The Financial Conduct Authority (FCA) is the organization that acts as the conduct regulator for financial services firms in the UK. This means that the FCA is responsible for ensuring that financial markets function well and that consumers are appropriately protected while promoting competition in the interest of consumers.

The FCA sets the standards for how firms should conduct their business and supervises them to ensure compliance with these standards. It has the authority to enforce rules, impose sanctions, and take action against firms that fail to meet regulatory requirements. This focus on conduct regulation is crucial for maintaining confidence in the financial system, protecting consumers from unfair treatment, and encouraging firms to act in the best interest of their clients.

In contrast, other organizations listed have different roles. The Financial Services Authority (FSA) was the predecessor of the FCA, and while it was responsible for conduct regulation in the past, it has since been replaced by the FCA. The Bank of England primarily focuses on monetary policy and overall financial stability rather than conduct regulation. Similarly, the Consumer Financial Protection Bureau (CFPB) is an agency in the United States that focuses on protecting consumers in the financial sector, but it does not operate in the UK. This illustrates why the FCA is the correct choice for conduct regulation in the