Financial Conduct Authority

Financial Conduct Authority
Chief Executive of the FCA	Vacant
Type	Regulator (run by administrators)
Formed	2013
Run by	UKOGB administrators
Regulates	Banks, investment firms, advisers, the London Stock Exchange
Keeps	The FCA Register
Website	fca.ukogb.co.uk
Headquarters	12 Endeavour Square, London, E20 1JN

The Financial Conduct Authority (FCA) regulates the financial system of UKOGB. It is run by the server's administrators, and it authorises investment firms and financial advisers, oversees the banks and the London Stock Exchange, keeps the public FCA Register and handles complaints about the firms it regulates.

History

The FCA was created in 2013, when the Financial Services Authority was split in two after the 2008 financial crisis. It took on the job of protecting consumers and keeping markets fair.

Authorisation

A firm or adviser that wants to manage other members' money must apply to the FCA and pass its competence test, which covers the rules of investing, client accounts and conduct. Authorised firms and advisers appear on the public FCA Register at fca.ukogb.co.uk. Investment banks such as Hopkins PLC are authorised in this way.

Once authorised, a firm can offer client accounts and investment mandates, charge fees, and manage members' money in shares, funds and gilts. The FCA can suspend, fine or revoke the authorisation of a firm or adviser that breaks its rules, and every action it takes is recorded on the Register.

Pay and markets

The FCA also runs the daily pay of every member's salary. Each member's pay is worked out from the positions they hold, income tax is taken off for HM Revenue and Customs, and the rest is paid into their account.

It watches trading on the London Stock Exchange, where stamp duty is charged on share purchases, and its Data Room publishes the figures behind the banks and the markets.

Complaints

Any member can complain about an authorised firm or adviser. The FCA investigates and can order the firm to put things right or take action against it.

Positions

In UKOGB the Financial Conduct Authority is run by members who hold its posts on the website. Its head is the Chief Executive of the FCA, who can edit the organisation's page, appoint people to its other roles and speak for it in public. The current holders are shown in the box on this page and on the organisation's page on the website, and each post brings its own Discord roles and website permissions.

• Chief Executive of the FCA (head)