The Act established a number of regulatory objectives and considerations for the FCA, their primary objective is to ensure that relevant markets function well. This strategic objective is supported by three operational objectives:
- To secure an appropriate degree of protection for consumers.
- To protect and enhance the integrity of the UK financial system.
- To promote effective competition in the interests of consumers.
In addition to the requirements imposed on it by the Act, the FCA is also required implement relevant provisions from European directives, such as, but not limited to, the Insurance Distribution Directive (IDD), the Market Abuse Regulation (MAR) and the EU Money Laundering Directives (MLD).
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