The U.K.’s Financial Conduct Authority is getting a makeover, with several structural changes announced this week by the fledgling financial regulator in order to “sharpen” its focus.
The FCA, which took over financial regulation for the U.K. in 2013, said the changes were decided upon after a lengthy review of the organization’s strategy and priorities. Tasked with protecting consumers, the integrity of the financial system, and promoting competition, the FCA also recently assumed regulatory responsibility for consumer credit agencies. The agency said the restructuring will allow it to hone in on on how firms are regulated as well as results for consumers and the markets themselves.
