ECONOMICS
FINANCIAL MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes, I understand this from the notes
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No, I don’t understand this from the notes
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No, I don’t understand this, as I have not read the notes
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None of the above
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Detailed explanation-1: -The Financial Conduct Authority (FCA) regulates the financial services industry in the UK. Its role includes protecting consumers, keeping the industry stable, and promoting healthy competition between financial service providers.
Detailed explanation-2: -The FCA is a principles-based regulator and it expects regulated firms not only to follow its prescribed Rules, but also to follow the ‘spirit’ of what the FCA is seeking to achieve. For example, it expects regulated firms to treat their customers fairly in all that they do.
Detailed explanation-3: -The FCA is also responsible for promoting effective competition, ensuring that relevant markets function well, and for the conduct regulation of all financial services firms. This includes acting to prevent market abuse and ensuring that consumers get a fair deal from financial firms.
Detailed explanation-4: -Our enforcement powers prohibiting individuals from carrying on regulated activities. suspending firms and individuals from undertaking regulated activities. issuing fines against firms and individuals who breach our rules or commit market abuse. issuing fines against firms that breach competition laws.