The UK financial services industry is regulated by two bodies, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
The PRA is responsible for ensuring that insurance companies are financially secure and can provide an appropriate degree of protection to customers. The FCA aims to ensure that the financial services industry is run with integrity; that it provides consumers with appropriate products and services and that firms work for the best interests of the customer. Insurance brokers conduct themselves within a framework set out by the FCA.
