Financial Conduct Authority

The Financial Conduct Authority (FCA) is the UK's financial regulatory body, responsible for overseeing the conduct of financial services firms and protecting consumers. It is in the news due to several recent events highlighting its role in policing financial activities. These include the UK Treasury tasking the FCA with overseeing new cryptocurrency regulations coming into force in 2027, reflecting the growing importance of digital assets. The FCA also fined Nationwide £44m for financial crime control failings, demonstrating its commitment to holding institutions accountable for lapses that enable fraud. Furthermore, the FCA is investigating WH Smith over an accounting error, potentially leading to clawbacks of bonuses from former executives. These events, along with the collapse of Safe Hands funeral firm, underscore the FCA's ongoing efforts to regulate diverse sectors, protect consumers, and ensure financial stability.