Demystifying The Roles And Responsibilities Of The FCA & PRA

As we chat to our clients it is apparent that there is still confusion over the remits of the new regulators and in our usual Curvy way we are here to bust the jargon and give everyone a clearer picture.

As we are all too aware, there have been many ‘scandals’ in the financial services industry during our recent economic crisis and much criticism was levied at the regulator, The Financial Services Authority (FSA) and also at the politicians of the time. Reforms were required and were subsequently introduced through the Financial Services Act 2012, which included abolishing and replacing the FSA, sending a very strong message to the financial services industry.  The creation of the new Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) has given the UK a new opportunity to regulate the financial services industry more efficiently and effectively.

Read the full white paper as a PDF