Financial Conduct Authority

The Financial Conduct Authority (FCA) has set out the steps it will put into action in the event of a regulatory failure.

The Financial Services Authority (FSA) blocked just 30 out of a possible 227,000 applications from individuals to join the financial sector in the six years since the banking crisis erupted, a rejection rate of just 0.01%.

There is no reason why financial services shouldn't be ‘sexy' in a post-Retail Distribution Review (RDR) world, according to Rory Percival technical specialist at the Financial Conduct Authority (FCA).

The Financial Services Authority (FSA) has confirmed its approach to temporary product intervention and said the incoming Financial Conduct Authority (FCA) "will not hesitate" to use its powers.

The incoming Financial Conduct Authority (FCA) may change rules introduced following the Retail Distribution Review (RDR) sooner than planned if it identifies widespread non-compliance or any harmful unintended consequences.

The head of the incoming Financial Conduct Authority (FCA) has suggested the new body will adopt a less aggressive tone than its predecessor and will instead seek to "have a dialogue" with the companies and individuals it regulates.

The incoming FCA will focus on consumer expectation, even if it is "utterly unreasonable", according to a legal and regulatory compliance consultancy.

The number of staff at the new financial services regulator will be approaching 4,000 by the time it comes into force next month.

The FSA is consulting on the approach the future Financial Conduct Authority (FCA) would take if it needed to exercise powers to make temporary rule changes, before consultation, relating to financial services products.

The Financial Services Authority (FSA) is to produce fewer and more concise consultation papers in an attempt to better connect with firms.