About the Financial Conduct Authority:
The Financial Conduct Authority (FCA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. We are a company limited by guarantee and financed by the financial services industry. The FCA is accountable to Treasury Ministers, and through them to Parliament. It is operationally independent of Government and is funded entirely by the firms it regulates.
The FCA is the conduct regulator for 58,000 financial services firms and financial markets in the UK and the prudential regulator for over 18,000 of those firms.
We aim to make markets work well – for individuals, for business, large and small, and for the economy as a whole.
Our work and purpose is defined by the Financial Services and Markets Act 2000 (FSMA). We work with consumer groups, trade associations and professional bodies, domestic regulators, EU legislators and a wide range of other stakeholders.
More information is available at www.fca.org.uk
About the Payment Systems Regulator:
The Payment Systems Regulator (PSR) is an independent economic regulator for payment systems in the UK. We are a subsidiary of the FCA but as an independent economic regulator, we have our own statutory objectives, Managing Director and Board as well as regulatory and competition powers.
Our role is to promote the interests of users of payment systems – such as consumers, businesses and government – through greater competition and innovation. We have a specific duty to promote effective competition in the market for payment systems and the markets for services provided by payment systems in the interests of users.
More information is available at www.psr.org.uk