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 ?
At Dubai Financial Services Authority Governor Kelimbetov met Chairman Ian Johnston.
Cyprus first began recognizing binary options as a financial instrument in 2012, while the Maltese Financial Services Authority (MFSA) negotiated a deal to transfer responsibility of regulating binary options as a financial instrument away from the Lotteries and Gaming Authority (LGA) in early 2013.
A West Midlands Police spokesman said: "We accompanied the Financial Services Authority to execute two warrants as part of their investigations." In September Mr Hexley pulled out of a meeting with creditors seeking compensation following the collapse of Greenfield International, blaming "excessive stress".
The FSCS needs to respond positively and we need to make sure that the system of consumer protection is transparent." Hexley, who pulled out of a promised meeting with creditors ten minutes after it had started blaming "excessive stress," was made bankrupt with liabilities of nearly pounds 1 million and banned and censured by the Financial Services Authority. He failed to respond to calls from the Mail.
An RBS spokeswoman said the bank was "co-operating fully with the Financial Services Authority".
Financial Services Authority do not regulate deposit accounts or writing of wills, or some forms of mortgages.
The Financial Services Authority said Norwich and Peterborough Building Society failed to ensure the Keydata products were suitable for the 3,200 customers it advised over a three-year period, despite its own compliance team raising concerns.
The service will run on an independent basis, with an independent chairman and board appointed by the Financial Services Authority. The service can be reached online at moneyadviceservice.
The Financial Services Authority said Tuesday that RBS and its subsidiaries failed to properly screen its customers and their transactions during 2008
In his first annual Mansion House speech to the City of London's financial elite, Osborne said the current tripartite regime where oversight is shared between the Treasury, BoE and Financial Services Authority will be abolished.
Mr Dodgson was one of six people arrested on Tuesday in dawn raids following a lengthy joint probe by the Financial Services Authority City watchdog and the Serious Organised Crime Agency.
The bank submitted application to UK Financial Services Authority (FSA) to obtain a permit to start operations in Poland.

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