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 Financial Ombudsman Service has upheld a customer's complaint against Lloyds Banking Group after it refused to allow him to conduct business in Welsh.
"Not only were the Financial Ombudsman Service impressed with the location, right next to the station with a regular and fast service to London, they also see real potential for their business be based here and we were able to beat off other areas in an open process.
If the payday loan company fails to resolve your complaint, you can take it to the Financial Ombudsman service eight weeks after first raising the issue.
The financial ombudsman service has a video giving further tips on how to avoid money problems this Christmas at Tiny.cc/Ombudsman.
Financial Ombudsman Service 0300 123 9123, financial-ombudsman.org.uk.
"If somebody feels a bank or building society has not gone about considering a mortgage application in the right way, they should make a formal complaint to the Financial Ombudsman Service, not the FSA."
It will be interesting to see how the Financial Ombudsman Service report goes down in the city and indeed whether it does officially sound the death knell for PPI.
The financial ombudsman service (the service) is intending to go out to the market for a new recruitment model for permanent and interim staff.
The Government has therefore backed the Financial Conduct Authority's planned expansion of the Financial Ombudsman Service (FOS) to include small businesses and microenterprises, as well as the banking industry's commitment to create a voluntary ombudsman scheme to address complaints from SMEs which have an annual turnover of up to PS10 million.
The Government has therefore backed the Financial Conduct Authority's planned expansion of the Financial Ombudsman Service (FOS) to include small businesses and micro-enterprises, as well as the banking industry's commitment to create a voluntary ombudsman.
Currently, the Financial Ombudsman Service, the body that mediates between customers and insurance companies when they cannot reach an agreement, receives around 140 complaints a month about pet insurance.
The Financial Ombudsman Service warned that complaints increased by 40% in the last financial year to just over 36,300.

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