Lloyd's of London operates under the authorization of which governing body?

Lloyd's of London operates under the authorization of the Financial Conduct Authority (FCA). The FCA is responsible for regulating financial services firms in the UK, including insurance companies. Lloyd's is a unique insurance market where various syndicates come together to provide coverage, and it is vital for it to be under the oversight of a dedicated regulatory body like the FCA to ensure that it adheres to the legal and financial standards required to operate within the UK's financial system.

The English parliament does not operate as a direct governing body over Lloyd’s. The other options, such as the London Assembly and the UK Treasury, also play different roles within the governance and financial landscape but do not provide direct regulatory oversight for insurance practices. Thus, the Financial Conduct Authority is the correct governing body under which Lloyd's of London operates.