Financial Services: Regulation

(asked on 21st March 2018) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether paragraph 2.1 of the Financial Conduct Authority's (FCA) Principles for Business applies to (a) all firms authorised by the FCA and (b) firms engaged in regulated activities which are not authorised by the FCA.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 26th March 2018

Under the Financial Services and Markets Act 2000, any firm (whether a business, a not-for-profit or a sole trader) carrying out a regulated activity must be authorised or registered by the FCA, unless they are exempt. It is a criminal offence to carry out regulated activities if a firm is not authorised or exempt.

All FCA regulated firms must adhere to the Principles for Businesses, as set out in the FCA Handbook.

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