This is a co-written article with George McNaughton, Head of Compliance at Neyber. The structure is based on the workshop we hosted as part of Mobile UX Design Festival at Fox Williams on the 23rd Feb 2018.
What is the FCA?
‘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’ www.gov.uk
In other words, they aim to ensure markets work well so that customers get a fair deal by:
enhancing market integrity: identifying and managing conflicts of interest
protecting consumers: they make sure firms put their customers protection above the firms’ own profitability
promoting competition in the interests of consumers
Whilst they are primarily focused on protecting consumers they recognize firms must be allowed to trade for profit. you can read more about them at The FCA website.
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