Financial Services Authority

From Traderpedia

An independent body that regulates the financial services industry in the UK.

The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. They are a company limited by guarantee and financed by the financial services industry. The Treasury appoints the FSA Board, which currently consists of a Chairman, a Chief Executive Officer, three Managing Directors, and 11 non-executive directors (including a lead non-executive member, the Deputy Chairman). This Board sets our overall policy, but day-to-day decisions and management of the staff are the responsibility of the Executive.

[edit] Aims and Objectives

  • promoting efficient orderly and fair markets
  • helping retail consumers achieve a fair deal
  • improving the UK's business capability and effectiveness
  • maintaining confidence in the financial system
  • promoting public understanding of the financial system
  • securing the appropriate degree of protection for consumers
  • the reduction of financial crime: reducing the extent to which it is possible for a business to be used for a purpose connected with financial crime.

[edit] External links