The body corporate previously known as the Financial Services Authority is renamed as the Financial Conduct Authority, referred to in this Act as "the FCA". The FCA is to have the functions conferred on it by or under this Act and must comply with the requirements as to its constitution set out in Schedule 1ZA. Schedule 1ZA also makes provision about the status of the FCA and the exercise of certain of its functions.

References in this Act or any other enactment to functions conferred on the FCA by or under this Act include functions conferred on the FCA by or under the Insolvency Act 1986; the Banking Act 2009; the Financial Services Act 2012; the Financial Guidance and Claims Act 2018; the Civil Liability Act 2018; the Financial Services and Markets Act 2023; the Alternative Investment Fund Managers Regulations 2013; a qualifying provision specified, or of a description specified, for the purposes of this subsection by the Treasury by order; and regulations made by the Treasury under section 8 of the European Union (Withdrawal) Act 2018.