The Financial Conduct Authority (FCA) is the financial regulatory body in the United Kingdom, operating independently of the UK government and financed entirely by charging fees to members of the financial services industry. Established under the Financial Services Act 2012, which came into effect on April 1, 2013, the FCA formed part of a new regulatory framework that abolished the former Financial Services Authority (FSA). The FCA regulates financial firms providing services to consumers and maintains the integrity of the UK’s financial markets, with a core focus on the conduct regulation of both retail and wholesale financial services firms.