The FCA stands for Financial Conduct Authority, a financial regulatory body.
- 1 FCA Contact Number:
- 2 FCA Head Office Opening Hours
- 3 FCA Head Office Address
- 4 Reasons to use the FCA head office contact number:
- 5 FCA Register
- 6 FCA Jobs
- 7 FCA Website
- 8 FCA Individual Register
- 9 FCA Regulation
- 10 Popular questions about the FCA
- 11 Who gets FCA fines?
- 12 FCA: What is an appointed representative?
- 13 Are accountants FCA regulated?
- 14 What are FCA regulated activities?
- 15 About the FCA
FCA Contact Number:
|Head Office||0844 453 0230|
|Enquiries||0843 557 4862|
|Complaints||0844 453 0230|
FCA Head Office Opening Hours
|Head Office||Monday to Friday, 8am to 6pm|
FCA Head Office Address
|Head Office||25 The North Colonnade, London, E14 5HS|
Reasons to use the FCA head office contact number:
- To see if a company is authorised by the Financial Conduct Authority.
- To hear more about your rights regarding unauthorised payments.
- To report a scam to the FCA.
- For assistance consumer credit reporting.
- To make a complaint to the FCA regarding a company’s behaviour.
The FCA Register is a public record that shows which individuals, companies or bodies have been regulated by the Financial Conduct Authority. It’s suggested that you check the register to see if a company you are using or working with has registered with the FCA. It can also be used to see if a consumer credit firm is allowed to provide credit. You’ll be able to see the company’s contact details, trading names and status i.e. whether they are approved or not. If you do have dealings with a company that isn’t regulated, you might be protected by the Financial Ombudsman service. You can also search for individuals who carry out important tasks which have to be FCA-regulated.
There are two million people who work in the financial services industry, so it is a large provider of employment which needs regulating. At the Financial Conduct Authority, there are many jobs to choose from such as regulating consumer credit to working in foreign exchange. Companies that the FCA oversees vary from payday lenders to high-profile investment banks. The FCA is also in the process of developing a new strategy to regulate such companies, so now is an exciting time to join the company. You can join as a graduate straight from university to help shape your career in the financial industry. The FCA also likes to invest in people using the FCA Academy to support their development. Employees also get a great range of benefits such as 25 days annual leave, private health and life insurance, an annual benefits allowance to spend on extra annual leave, childcare, dental cover and more. At the headquarters, there is also an on-site fitness centre, GP and regular free health screening.
The FCA Website has a wealth of information regarding the services that the authority provides. You’ll be able to see which tasks each firm must complete before they can meet standards set by the Financial Conduct Authority. If you are a consumer, you can use the website to get to know your financial rights, such as claiming compensation if a company that you have been using fails or avoiding a financial scam. The website will also display the latest news, press releases and stories from the financial industry. Lastly, you’ll be able to view publications from the FCA regarding guidelines and research for the financial industry.
FCA Individual Register
You can use the FCA Individual Register to find information on a person who works for an FCA-authorised firm and is tasked with important responsibilities and has been approved by the FCA themselves.
When the FCA was first founded, its approach to regulating the financial industry was set out. The main aim of the company is to protect and enhance the public’s confidence in the financial industry in the UK. The FCA was also granted new powers which allowed them to intervene in a product, withdraw a firm or change promotions which could be considered misleading immediately. The FCA also aims to make sure that financial markets are fair and safe for both companies and consumers.
The most important part of the FCA’s regulation procedure is the business and market analysis team, who have been specially recruited to thoroughly analyse the economics of the industry.
There are three objectives for the FCA. They are:
- Protect consumers- securing protection for customers
- Protect markets- protecting the integrity of the UK’s financial system.
- Promote competition- promoting competition across the financial industry.
The FCA prioritises the regulation of companies who are a higher risk to their objectives.
Popular questions about the FCA
Who gets FCA fines?
The Financial Conduct Authority can give fines to both individuals and firms. For example, in 2016, a fine of £13,130,000 was granted to Mr Shay Jacob Reches and Towergate Underwriting Group was given a fine of £2,632,000 for breaches relating to client assets. So far, the total for fines in 2016 is £10,612,142 excluding Mr Reches’ fine.
FCA: What is an appointed representative?
An appointed representative is someone who runs authorised activities, acting as an agent for a firm which is FCA-registered.
Are accountants FCA regulated?
No accountants are not regulated by the Financial Conduct Authority. Instead, the industry is regulated by the Financial Reporting Council.
What are FCA regulated activities?
Regulated financial activities in the UK include accepting deposits, carrying out insurance contracts, dealing in investments or setting up investment schemes, providing advice on stakeholder products and entering funeral plan contracts.
About the FCA
The Financial Conduct Authority was first established in 2013. Creating the FCA meant that a new framework for regulating the financial industry could be developed. The FCA took over from the Financial Services Authority.
The Bank of England was responsible for creating stability to develop a new structure- made up of the Financial Policy Committee, Prudential Regulation Authority and the Financial Conduct Authority.
The FCA is the most powerful regulator to ever oversee the finance industry. It can ban financial products for a year whilst it investigates whether to ban the product indefinitely. Since 2014, the FCA has been responsible for regulating the consumer credit industry. Until then, the Office of Fair Trading was responsible for this.
For more information about the Financial Conduct Authority, call the Financial Conduct Authority head office contact number.