Financial Services Authority

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Financial Services Authority

The primary regulatory body for the British financial industry. It is a non-government agency, though its board of directors is appointed by HM Treasury. It is charged with maintaining efficiency and competition in banking, insurance and the securities trade. It also is responsible for protecting consumers insofar as possible. It was established in 2001.

Financial Services Authority (FSA)

a body which is responsible for regulating all aspects of the provision of financial securities and investment under the FINANCIAL SERVICES ACT, 1986 (as amended by the Financial Services and Markets Act, 2000). Previously this task was split between various other organizations, including the Securities and Futures Authority, Personal Investment Authority and the Investment Management Regulatory Organization.

Financial Services Authority (FSA)

a body that is responsible for regulating all aspects of the provision of financial securities and investment under the FINANCIAL SERVICES ACT 1986 (as amended by the Financial Services and Markets Act 2000). Previously this task was split between various other organizations, including the Securities and Futures Authority, Personal Investment Authority and the Investment Management Regulatory Organization. See SELF-REGULATORY ORGANIZATION.
References in periodicals archive ?
Citizens Advice is urging more people suffering at the hands of payday lenders to complain to the Financial Ombudsman Service
The Financial Ombudsman Service will not normally consider complaints lodged more than three years after a consumer missold a policy first became aware they had suffered a loss as a result.
The move follows discussions with the Financial Services Authority and the Financial Ombudsman Service over the potential claims.
The Financial Ombudsman Service (FOS) has stated that it receives around 300 complaints on interest-only mortgages a year.
This is the assessment that will be used by the Financial Ombudsman Service if your case is rejected by the bank.
Clydesdale, which is owned by National Australia Bank (NAB), also provided false information to the Financial Ombudsman Service in response to requests for evidence of the records held on PPI policies sold to individual customers.
The Financial Ombudsman Service (FOS), which resolves disputes between financial firms and consumers, has just published new guidance to help consumers and bank staff when registering power of attorney.
Ms Ceeney is a former chief executive of The National Archives and the Financial Ombudsman Service and will be joining from HSBC UK, where she is currently head of customer standards.
The Financial Ombudsman Service have had nearly 11,000 calls about credit brokers this year, compared with around 4700 in the whole of 2013.
According to the Financial Ombudsman Service in the UK, mis-selling complaints in the UK are increasing.
The Financial Ombudsman Service (FOS), which settles disputes between consumers and financial firms, said businesses are still failing to do enough to clear up complaints themselves, meaning that consumers are increasingly turning to the service to step in.
Despite a legal challenge to PPI complaints being dropped last year, the Financial Ombudsman Service said it was "disappointing" that a significant number of consumers are still waiting for businesses to clear up their cases.

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