What is one of the primary roles of the Financial Conduct Authority (FCA)?

The primary role of the Financial Conduct Authority (FCA) is to promote effective competition in the financial services industry. This objective is fundamental as it ensures that customers have greater choices and better deals in the marketplace. By fostering an environment where competition can thrive, the FCA helps to safeguard consumer interests and enhance the overall efficiency of financial markets.

The FCA also works to prevent anti-competitive practices and monitor market conditions, thus contributing to a healthier economic system that benefits consumers and businesses alike. This focus on competition is essential in protecting consumers from poor practices, enabling them to make informed decisions, and encouraging innovation within the financial services sector.

In contrast, the other options describe functions that are not part of the FCA's mandate. For example, issuing credit cards, operating commercial banks, or guaranteeing loans fall outside the regulatory and supervisory role of the FCA, as these activities are typically performed by financial institutions themselves, rather than by the regulatory authority.