When we decide whether to authorise a firm or individual, we measure how well we believe they will meet our expectations and the risk they pose to our objectives. If they do not meet our standards, we do not allow them to enter the market.
As we supervise firms, our focus is to make sure that consumers are at the heart of a firm’s business.
We make risk-based judgements about whether the firm’s business model and how it is run results in fair treatment for consumers, that it upholds market integrity and, for those firms that we prudentially regulate, that it is financially sound.
We intervene early where we see poor behaviour, taking action to prevent harm to consumers and markets and secure redress where appropriate.
If we find poor practice, we use our enforcement powers to ensure that firms and individuals that don’t follow our rules do not damage consumer interests or the integrity of and confidence in the financial markets.
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