ECONOMICS (CBSE/UGC NET)

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ECONOMICS

FINANCIAL MARKETS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The Financial Conduct Authority (FCA):*Supervises the conduct of firms and markets to ensure that things are done legally and fairly; Promotes competition in financial markets so that better deals are provided for consumers; Bans financial products that don’t benefit consumers; and bans, or forces firms to change, misleading adverts for financial products and services.
A
Yes, I understand this from the notes
B
No, I don’t understand this from the notes
C
No, I don’t understand this, as I have not read the notes
D
None of the above
Explanation: 

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. FCA works with HM Treasury.

Detailed explanation-2: -Integrity: A firm must conduct its business with integrity. Skill, care and diligence: A firm must conduct its business with due skill, care and diligence. Management and control: A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.

Detailed explanation-3: -A firm must pay due regard to the interests of its customers and treat them fairly. A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.

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.

There is 1 question to complete.
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