Which principle is part of the FCA’s conduct of business rules?

The principle stating that the best interests of consumers must be at the core of activities is fundamental to the Financial Conduct Authority's (FCA) conduct of business rules. This principle emphasizes that firms are expected to prioritize consumer protection and ensure that their actions are aligned with the interests of their clients. By fostering a culture of treating customers fairly and responsibly, the FCA aims to enhance trust in the financial system, ensuring that consumers receive appropriate products, services, and support.

This focus on consumer interests helps to create a fairer market where financial institutions are held accountable for their practices, ultimately leading to a more sustainable and transparent financial environment. The conduct of business regime is designed to build confidence and promote good outcomes for consumers, which aligns with the objectives set forth by the FCA.

In contrast, other principles mentioned do not align with the core objectives of the FCA. Efficiency relates more to cost management and operational effectiveness rather than consumer welfare. Competitive advantage and technological innovation, while important in their own right, do not inherently emphasize the protection and fairness towards consumers that the chosen principle highlights.