Which authority is primarily concerned with the conduct of financial services?

The Financial Conduct Authority (FCA) plays a crucial role in overseeing the conduct of financial services in the UK. It was established to ensure that financial markets work well for individuals, businesses, and the economy as a whole. The FCA's primary focus is on protecting consumers, enhancing the integrity of the UK financial system, and promoting competition among financial service providers. This involves regulating the behavior of firms and ensuring they adhere to established standards of conduct to safeguard consumer interests and foster confidence in the financial system.

The other options play different roles within the financial system. The Prudential Regulation Authority (PRA) is primarily focused on the stability of financial institutions rather than their conduct. The Bank of England oversees monetary policy and financial stability, functioning as the central bank. The Money Advice Service aims to provide financial advice and guidance to consumers but does not regulate the conduct of financial services. Thus, the FCA is distinctly positioned as the authority responsible for the conduct of financial services.