The Financial Conduct Authority — an update

On 1 April 2013, the UK’s Financial Services Authority (FSA) was split into three separate entities: the Financial Conduct Authority (FCA), the Prudential Regulation Authority and the Financial Policy Committee. During the first three months of its existence, the FCA has been keen to emphasise its status as a new regulator. In a speech given on 18 June 2013, Tracy McDermott, director of enforcement and financial crime at the FCA, set out the FCA’s approach to date and what its focus will be going forward…

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