FSA registered - how?

shatztrader · Jul 21, 2009

Hi all traders

I am new to this.
I have SII cert units: FSA reg., Financial Deriv., Securities, which I have taken in February 2009, yet I wasnt registered with an employer.
I have started this job in trading recently, and going through the process of opening an account with the clearing house (the company does it for me obviously).
Shall I "activate" (register) my certificate with the employer? Am I FSA registered already by acquiring a certificate? I presume these are not very important, but would appreciate if anyone could advice on that?
Regards

Trader333 · Jul 21, 2009

FSA registered - how?

I am not sure I would bother as the next government has already said that the FSA will be closed down.

Paul

shatztrader · Jul 21, 2009

got that tx

MakkaPakka · Jul 22, 2009

Don't worry too much about what the 'next government' says...

Trader333 said:
I am not sure I would bother as the next government has already said that the FSA will be closed down.

Paul

Unless UK PLC is planning to get out of the financial services business altogether then there will need to be a regulatory body.

The 'next government' might want to shake things up, do a bit of rebranding and put some old Eton chums in charge but once up and running systems of regulation are not easily 'closed down'.

The 'next government' might also think again on those closing down plans before actually writing them down in an election manefesto all of which is still some way in the future and therefore quite speculative.

Anyone holding any qualifications approved by the FSA should probably hold on to them.

MP

ns1000 · Jul 22, 2009

shatztrader said:
Hi all traders
I am new to this.
I have SII cert units: FSA reg., Financial Deriv., Securities, which I have taken in February 2009, yet I wasnt registered with an employer.
I have started this job in trading recently, and going through the process of opening an account with the clearing house (the company does it for me obviously).
Shall I "activate" (register) my certificate with the employer? Am I FSA registered already by acquiring a certificate? I presume these are not very important, but would appreciate if anyone could advice on that?
Regards

You don't need to be FSA registered unless you're performing an FSA-regulated function. Trading your own, or an employer's account generally won't be regulated. Unless you're dealing with clients' funds, you won't be registered.

Trader333 · Jul 22, 2009

The 'next government' might want to shake things up, do a bit of rebranding and put some old Eton chums in charge but once up and running systems of regulation are not easily 'closed down'.

The Tories have already pledged to close the FSA down and give the powers to the BOE as they have concluded that the FSA was ineffective and in my view are right.

Paul

Technically Fundamental · Jul 22, 2009

Talk about your top down structure.

BSD · Jul 22, 2009

Trader333 said:
The Tories have already pledged to close the FSA down and give the powers to the BOE as they have concluded that the FSA was ineffective and in my view are right.

Paul

Interesting that Paul.

Doesn't seem like any countries regulators have done their job in a way that could even with lots of goodwill be termed competent.

Think one big problem everywhere is underfunding / understaffing, plus probably to an extent a latent or maybe even subconscious political desire to not rock the boat too much while the bubble was, umm, merrily bubbling.

;-)

Skill Leverage · Jul 24, 2009

It's Schatz, not shatz

shatztrader · Jul 24, 2009

Skill Leverage said:
It's Schatz, not shatz

I know

typo

MakkaPakka · Jul 26, 2009

Re Conservative White Paper

Trader333 said:
The Tories have already pledged to close the FSA down and give the powers to the BOE as they have concluded that the FSA was ineffective and in my view are right.

Paul

Here it is for those interested: http://www.conservatives.com/News/N...s/Downloadable Files/PlanforSoundBanking.ashx

At 57 pages its a bit of a handful. Luckily the essence of the document is stated quite clearly on the first page - paragraph four:

'We must not allow ill-conceived or badly designed new regulations, either from home or abroad, to undermine the prospects of an internationally successful financial services industry based in London and other centres of excellence around the country.'

That sounds like business as usual to me...

cheers,

MP

FSA registered - how?

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