Financial Services Authority

Financial Services Authority or more commonly referred to as FSA , is regarded as a non departmental public independent body. It may also be referred to as a quasi judicial body. The Financial Services Authority is responsible for regulating the financial service industry in UK (United Kingdom).
The FSA operates from two offices- Canary Wharf and Edinburgh. It is also responsible for listing shares on the stock exchange. While listing shares as a competent authority , the FSA is referred to as the UK Listing Authority or UKLA.
More about the Financial Services Authority (FSA) may be known under the following heads.

1) Activities regulated by FSA
2) Regulatory Principles
3) Statutory Goals

Activities regulated by Financial Services Authority:

There are many activities, which are regulated by the FSA. Some of the commonly regulated activities are as follows:
While accepting deposits
When e-money is issued
Deals in investments are arranged
Investment management
Investment deals involving either the agent or principal investor.
Activities related to Lloyd ‘s market
Regulation of mortgage contracts.
Administration of investment
Safeguarding investment
Activities related to Pension programs
Activities related to stakeholder pension programs.

Regulatory principles:
The following are a set of principles, which govern the functioning of the Financial Services Authority or the FSA.
International Character
Economy and efficiency

Statutory Goals:
The Financial Services Authority or the FSA has the following statutory goals. As per the Financial Services and Markets Act, there are four statutory goals, which have been imposed upon the Financial Services Authority or the FSA. They are as follows:

Decreasing crime in finances- reducing the incidence of financial crimes. Minimizing the incidence of crimes associated with any business.

Market Confidence- enhancing confidence in the market.

Consumer protection- adopting appropriate means to save consumers from fraud thus rendering protection.

Public awareness- making people understand the financial system in an effective manner.


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Last Updated on : 1st August 2013

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