The Limits of the Financial Conduct Authority's Rule-making Power.

This article examines the scope of the FCA 's general nile-making power in s. 137A of FSMA. It sets out two core arguments showing that economic purposes and principles are central to the FCA 's objectives andgeneral functions: (1) the argument from "market function expertise "; and (2) the argument from "competition expertise. These economic purposes and principles shape the rule-making power, and limit the subject matter of the regulator 's rules. [ABSTRACT FROM AUTHOR]