“The FCA regulates financial firms providing services to consumers and maintains the integrity of the UK’s financial markets. It focuses on the regulation of conduct by both retail and wholesale financial services firms. Like its predecessor the FSA, the FCA is structured as a company limited by guarantee”
Senior management must establish the right culture to convert good intentions into fair outcomes for consumers. The FCA do not consider it reasonable for firms to compromise on fair treatment of customers in the name of financial success.
The FCA expects customers’ interests to be at the heart of how firms do business. TCF is one of the FCA’s 11 Principles for Business and should be a core part of the culture of each financial services organisation.
Below is a video from the FCA 12 months after they launched