[Part 1A The Regulators] (ss [1A-[3T)
[Part 1A The Regulators] (ss [1A-[3T)

[1A The Financial Conduct Authority]

[(1)     The body corporate previously known as the Financial Services Authority is renamed as the Financial Conduct Authority.

(2)     The Financial Conduct Authority is in this Act referred to as “the FCA”.

(3)     The FCA is to have the functions conferred on it by or under this Act.

(4)     The FCA must comply with the requirements as to its constitution set out in Schedule 1ZA.

(5)     Schedule 1ZA also makes provision about the status of the FCA and the exercise of certain of its functions.

(6)     References in this Act or any other enactment to functions conferred on the FCA by or under this Act include references to functions conferred on the FCA by or under—

(a)     the Insolvency Act 1986,

(b)     the Banking Act 2009,

(c)     the Financial Services Act 2012, . . .

[(cza)     the Financial Guidance and Claims Act 2018,]

[(czb)     the Civil Liability Act 2018,]

[(ca)     the Alternative Investment Fund Managers Regulations 2013,. . .]

(d)     a qualifying EU provision that is specified, or of a description specified, for the purposes of this subsection by the Treasury by order[, or

(e)     regulations made by the Treasury under section 8 of the European Union (Withdrawal) Act 2018].]


[1B The FCA's general duties]

[(1)     In discharging its general functions the FCA must, so far as is reasonably possible, act in a way which—

(a)     is compatible with its strategic objective, and

(b)     advances one or more of its operational objectives.

(2)     The FCA's strategic objective is: ensuring that the relevant markets (see section 1F) function well.

(3)     The FCA's operational objectives are—

[. . .]

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