Financial Conduct Authority (FCA)

Overview

The Financial Conduct Authority regulates the conduct of financial firms in the UK and is the prudential regulator for firms not regulated by the PRA. It sets the rules in the FCA Handbook, authorises firms, and takes enforcement action. The FCA does not handle individual consumer compensation — those claims go to the Financial Ombudsman Service or the Financial Services Compensation Scheme.

What it handles

• Consumer Duty enforcement (post-July 2023)
• Misleading financial promotions and unauthorised firms
• Whistleblowing about regulated firms
• Investigations into market abuse
• Authorisation and variation of firm permissions

What it does not handle

• Individual compensation for losses — go to FOS or court
• Firm insolvency claims — go to FSCS
• Pensions regulation (TPR) or accountants (FRC) — different regulators

Process

1. Step 1: Check firm is authorised

   Before or when reporting a concern, you can use the FCA Firm Checker to find out if the firm is authorised and has permission for the service it's offering.

2. Step 2: Report losses to Report Fraud

   If you've lost money to a scam, you should contact Report Fraud first and then also report it to the FCA.

3. Step 3: Report the firm to the FCA

   If a firm can't be found on the Firm Checker, you can contact the FCA directly by phone to report it.

4. Step 4: FCA reviews the report

   The FCA can't help you get your money back, but it looks into every report it receives, which it says could help protect others.

Official sources