Financial Conduct Authority—powers
Financial Conduct Authority—powers

The following Financial Services guidance note provides comprehensive and up to date legal information covering:

  • Financial Conduct Authority—powers
  • The FCA's powers as part of the new regulatory arrangements
  • What are the FCA's powers?
  • How does the FCA discharge its powers?
  • Introduction to the FCA powers
  • Product intervention powers
  • Using product intervention
  • Warning notices
  • Publicising misleading financial promotions
  • Qualified parent undertakings
  • more

The FCA's powers as part of the new regulatory arrangements

BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on the impact of Brexit on the Financial Conduct Authority’s (FCA’s) supervisory approach, see Practice Note: Preparing for Brexit: Regulations relating to the European Supervisory Authorities and the European Systemic Risk Board and Information Sharing–—quick guide.

The FCA forms part of the regulatory structure introduced following the wide political and social desire for a stronger regulatory framework. Along with the creation of new regulatory bodies, revised objectives and functions, the powers will be an important facet of the drive for such a cultural shift. See also Practice Notes: Financial Conduct Authority—structure and constitution, Financial Conduct Authority—objectives and principles, Financial Conduct Authority—functions, and FCA supervisory approach for further information. It is also important to see the FCA's powers in the context of the development of the European regulatory structure.

What are the FCA's powers?

The powers are key mechanisms by which the FCA regulates and supervises firms. While in many respects, these are unchanged from those the predecessor regulator, the Financial Services Authority (FSA), had under the previous forms of the Financial Services and Markets Act 2000 (FSMA 2000),