If you live in the UK, you might have heard about a body that is known to the public as FCA. FCA is independent from the UK government, and is responsible for governing the UK financial market. It is not financed by the government as all the funds allowing it to run properly come from the fees taken from its members.
FCA has many powers, but its main goal is to protect the consumers in the UK resulting from the abuse of the financial institutions present in the country.
If you want to enter the UK financial market, you will need to remember about complying with the rules and regulations given by FCA. There is simply no way around it. Whether you like it or not, you simply need to comply with certain standards as a business owner.
All those who are new to the UK financial market I have some good news. Thanks to Pragmatic FCA Authorisation, all new as well as existing businesses can seek help in complying with the ever-growing list of standards posed by the FCA. Doing it on your own would be extremely difficult, but things get a lot easier when you have somebody by your side.
Why is FCA compliance such a big deal anyway? It is a big deal because you don’t want to get on their bad side, believe me. It is best if you make yourself familiar with the regulations before even starting your business, or even better, it would be better for you to ask somebody to do it for you. It is a win-win situation for everybody. You get a guarantee that you are never going to run into any problems on the way, and the company taking care of the compliance matters for you makes sure that you avoid the trouble. As you can see, FCA compliance is a simple topic after all.