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Payment protection: FCA launches website

The Financial Conduct Authority (FCA) has launched a new website to keep consumers up to date with any developments from the regulator.

Its new website has been set up to inform consumers about their rights, inform them about banking products, stay protected against financial scandals and help them complain if they are caught up in one.

From April 1st, the FCA has taken over from the Financial Services Authority (FSA) as the main financial regulator in the UK alongside the Prudential Regulation Authority (PRA).

The FCA will be in charge of monitoring conduct within the financial sector and helping consumers with complaints.

As a result, the FCA will be watching the banking sector to ensure that there is not another scandal similar to that of the mis-selling of payment protection insurance.

It will also be taking over Libor investigations, which the FSA has been in charge of previously. With three banks having been fined already, the FCA will be continuing investigations to see how far reaching this scandal is.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801565203-ADNFCR

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