What the FCA Does and How It Protects Consumers

The Financial Conduct Authority (FCA) regulates financial services firms and markets in the UK. It sets the standards firms must meet and holds them to account when they don't, with the stated aim of supporting a healthy and successful financial system so that consumers get a fair deal. If you want to know whether a firm is legitimate, complain about a financial product, or understand the rules a firm must follow, the FCA's website (fca.org.uk) is the starting point.

What the FCA is responsible for

According to its own description, the FCA's purpose is to "enable a fair and thriving financial services market, for the good of consumers and the economy." In practice that means two broad jobs:

• Regulating firms and markets — setting standards for financial services firms operating in the UK.
• Holding them to account — taking action when firms fail to meet those standards.

The FCA also describes its overall goal as supporting a healthy and successful financial system in which consumers are treated fairly. Its work spans sectors including law, insurance, banking, policy and technology services, reflecting the range of firms and activities it oversees.

How the FCA helps consumers

The consumer-facing side of the site groups the tools and information most useful to the public:

Checking a firm with the FCA Firm Checker

The FCA Firm Checker is described as a new tool for consumers that makes it easier to confirm whether a financial services firm is authorised and permitted to sell you products and services. This matters because dealing with an unauthorised firm means you generally lose access to protections such as the Financial Ombudsman Service and the Financial Services Compensation Scheme.

To use it, you go to the checker on the FCA site, enter the firm's details, and review whether the firm appears as authorised with the relevant permissions. If it doesn't appear, or the permissions don't cover what you're being offered, treat that as a warning sign.

The Warning List

The FCA maintains a Warning List of unauthorised and clone firms. "Clone firms" are fraudulent operations that copy the details of genuine authorised firms to appear legitimate. Checking the Warning List alongside the Firm Checker helps you spot both firms that were never authorised and impostors using a real firm's identity.

How the FCA supports firms

The FCA also provides a dedicated area for firms, covering:

• Motor finance complaints — firm-specific information on handling these complaints.
• Consumer Duty — the standards firms must meet in delivering good outcomes for retail customers.
• FCA support services for firms — practical help with regulatory obligations.

My FCA: the portal for firms

My FCA is a portal that lets firms sign in with their existing details for direct access to three systems:

• Connect — the FCA's system for applications and notifications.
• Online Invoicing — for managing fees.
• RegData — for regulatory data returns.

Within the portal, scheduled tasks show a due date and status, so firms can see what needs to be completed and when. This is a working tool for regulated firms rather than something consumers need.

Other resources on fca.org.uk

Beyond the consumer and firm sections, the site hosts:

• The Financial Services Register — the official record of authorised firms and individuals.
• The FCA Handbook — the rules and guidance firms must follow.
• Publications and consultations — where you can have your say on live consultations or browse final rules and other resources.
• News and press releases — for example, announcements on appointments and new rules, such as rules to make long-term investment funds clearer.
• Newsletters and email alerts — sign-up for FCA news, publications, events and unauthorised firm warnings.

When to use which part of the site

• Before handing money to a firm: use the FCA Firm Checker, then cross-check the Warning List.
• If you think you've been contacted by an impostor: check the Warning List for clone firms and see the consumer information on fake FCA communications.
• If you have a complaint about a financial product: start with the consumer information section, which covers complaints and relevant schemes.
• If you run a regulated firm: use My FCA for Connect, Online Invoicing and RegData, and check the firm information on Consumer Duty and sector-specific complaints handling.

The FCA's role is to set the rules, check who is allowed to operate, and act when firms fall short — and its site gives consumers and firms the tools to check authorisation, report concerns and understand the standards that apply.