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LUCID CO-OP IS FCA REGULATED

FCA REG No:  5010


What does the FCA do?

The FCA’s primary aim is to ensure financial markets work honestly, fairly and effectively for individuals, businesses and the economy as a whole. It achieves this by:

  • Regulating the conduct of around 51,000 businesses
  • Prudentially supervising 49,000 firms
  • Setting specific standards for around 18,000 firm


How does the FCA protect clients?

The FCA’s objective is for consumers to trust that the firms it regulates are providing them with appropriate products and services.

To achieve this, the FCA has three objectives set out in the Financial Services Act 2012:

  • 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.

Before the FCA grants authorisation, firms must demonstrate that they meet a range of requirements. The FCA then supervises these firms to make sure they continue to meet specific standards and rules once they’re authorised. If firms and individuals fail to meet these standards, the FCA can execute a range of enforcement powers.

What does FCA authorised mean?

When applying for authorisation - which can take anything from six to 12 months - businesses must show they are ready, willing and organised to comply with the rules, requirements and standards of the regulatory system.

This means that the business and the people running it are capable of making informed decisions about how to run that business, and are accountable for their actions. They must be:

  • Ready to work with the FCA to meet their obligations.
  • Willing to be open, honest and proactive in understanding and carrying out their regulatory duties.
  • Organised enough to carry out the activity they’ve applied for regulation in.

LUCID CO-OP Limited

Contact Us
Office: +44 027 4382019
Email:  admin@lucidcoop.co.uk

Address:

2 Frederick Street

Kings Cross

London, WC1X  0ND

United Kingdom

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