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 ?
The fine is more than twice the size of the FSA's previous record penalty on an individual -- a 2.8 million pounds ($4.5 million) fine on former broker Simon Eagle for market abuse last year -- as it was calculated under a new penalty regime.
The FSA considered Roberts' misconduct particularly serious as it meant that customers were at risk of receiving unsuitable advice and, for a period of time, A-Z was at risk of being used for financial crime.
In total, the FSA has imposed fines of over [pounds sterling]8.5 million on European banks for having inadequate reporting arrangements since August 2009.
The FSA sent out a warning shot to the industry last year after discovering that a number of firms had not been segregating client money adequately.
Contact FSA on tel 020 7276 8888 or visit www.food.gov.uk
The individual is also eligible to participate in an FSA program that allows the loss (or a portion of the loss) to be paid out of pretax dollars.
Mr Sants said: "I am very proud of the manner in which the FSA rose to the challenge of dealing with such unprecedented turbulence across global financial markets.
"Regardless of the future of FSA accounts, drugstore.com will always be a reliable source for value-minded consumers to their health care needs."
FSA will mail ballots to eligible voters beginning Nov.
OIG said FSA's reports sometimes lacked required information, including whether FSA met its goals and legal requirements, evaluations of chief managers and recommendations for regulatory or legislative changes.
And the FSA added that anyone who has arranged a mortgage, re-mortgage, insurance or investment through Pure Money should check with the product provider to find out whether the contract is valid.
The FSA got its start in the aftermath of a number of banking scandals in the 1990s.