What is the FPC's primary responsibility?

The primary responsibility of the Financial Policy Committee (FPC) is to monitor and mitigate systemic risks within the UK financial system. This involves assessing and addressing risks that could potentially threaten the stability of the entire financial system, rather than focusing on individual firms or consumer complaints.

The FPC uses macroprudential tools to identify emerging risks, implement policies to ensure a stable financial environment, and take actions to prevent financial crises. Its role is crucial in maintaining the resilience of the financial system, especially during periods of economic uncertainty or volatility.

The other options, while related to different aspects of financial regulation, do not capture the FPC's main function. For instance, appointing members of the Financial Conduct Authority (FCA), addressing consumer complaints, or regulating dual-regulated firms fall under the responsibilities of different regulatory bodies or committees focused on specific areas within the financial services landscape.