Financial Conduct authority.
Entirely by the industry.
- The FCA is an independent public body, funded entirely by members of the financial services industry.
- The FCA is accountable to the UK Treasury, which is responsible for the UK's financial system, and to Parliament.
- Financial markets need to be
- - Honest
- - Fair
- - Effective so that consumers get a fair deal
- The FCA serves:
- - Individuals
- - Small business
- - Large business
- - The economy as a whole
- The Forex markets need resilient infrastructure, with appropriate
access and transparency to meet the needs of consumers,
corporates and other involved entities.
- The FCA aims to support and empower a healthy and
successful financial system, where firms can thrive and
consumers can place their trust in transparent and open
The FCA protects and enhances the integrity of the UK
financial system. This benefits firms, individuals and society
as a whole by making markets:
Funded by over 56,000 businesses*
*as at 09/01/2017
FUNDS AND FCA REGULATION
Protect your clients. Ensure their funds ("client money") are in segregated bank accounts.
Ensure the environment is regulated. A retail investor initiative.
Why do you need your broker to operate segregated client accounts?
- It is a major responsibility to handle or hold clients' cash assets.
- INFINOX has segregated bank accounts to hold clients' money.
- This ring-fenced and segregated clients' money from the day to day operations of the brokerage.
- It means that customers can withdraw their funds when they so choose.
Why should your broker be regulated and authorised by the Financial Conduct Authority (FCA)?
- Financial markets need to be honest, fair and effective so that customers get a fair deal.
- The FCA's aim is to make markets work well, and the FCA does this by regulating the conduct of more than 56,000 businesses.*
- The FCA is responsible for regulating a sector which plays a critical role in our lives and without which the modern economy could not function – how well financial markets work has a fundamental impact on us all
- The UK financial services employ over 2.2 million people and contribute £65.6bn in tax to the UK economy. If UK markets work well, competitively and fairly, they maintain confidence in the UK as a major global financial hub. The FCA's role is to help ensure this happens.
The FCA's strategic objective is to ensure that the relevant markets function well and its operational objectives are to:
- Protect consumers – the FCA secures an appropriate degree of protection for consumers.
- Protect financial markets – the FCA protects and enhances the integrity of the UK financial system.
- Promote competition – the FCA promotes effective competition in the interests of consumers.
The FCA is an independent public body funded entirely by the firms it regulates, by charging firms fees. It is accountable to the Treasury, which is responsible for the UK’s financial system, and to Parliament.
Source: FCA. www.fca.org.uk. as at 09/01/2017.
FCA PRINCIPLES FOR BUSINESS
Procedures that systematically ensure high standards.
INFINOX, as a regulated firm, ensures to comply with these principles for the benefit of customers.
A firm must conduct its business with integrity.
Skill, care and diligence
A firm must conduct its business with due skill, care and diligence.
Management and control
A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.
A firm must maintain adequate financial resources.
A firm must observe proper standards of market conduct.
A firm must pay due regard to the interests of its customers and treat them fairly.
Communications with clients
A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.
Conflicts of interest
A firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client.
Customers: relationships of trust
A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgment.
A firm must arrange adequate protection for clients' assets when it is responsible for them.
Relations with regulators
A firm must deal with its regulators in an open and cooperative way and must disclose to the appropriate regulator appropriately anything relating to the firm of which that regulator would reasonably expect notice.