Financial Services Authority

  

The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. They are a company limited by guarantee and financed by the financial services industry.

The Treasury appoints the FSA Board, which currently consists of a Chairman, a Chief Executive Officer, three Managing Directors, and nine non-executive directors (including a lead non-executive member, the Deputy Chairman). This Board sets our overall policy, but day-to-day decisions and management of the staff are the responsibility of the Executive.

Who they regulate

The FSA's aim is to promote efficient, orderly and fair financial markets and help retail financial service consumers get a fair deal.

The FSA was set up by the UK government. The government is responsible for the overall scope of the FSA's regulatory activities and for its powers.

The FSA regulates most financial services markets, exchanges and firms. It sets the standards that they must meet and can take action against firms if they fail to meet the required standards.

More Information at FSA Website


FSA Press Releases on the jml Insurance site

November 2008:  FSA concludes its review of insurance comparison websites

July 2008: Liverpool Victoria Banking Services to pay £840,000 fine plus compensation to PPI customers following FSA investigation

July 2008: FSA fines Hastings Insurance Services Ltd (Hastings) £735,000 for not treating customers fairly

June 2008: FSA launches payment protection insurance comparison tables

May 2008: New FSA travel insurance regulation will protect consumers

July 2007:  FSA appoints new chief executive

More information about the FSA - Financial Services Authority  

July 2008: Liverpool Victoria Banking Services to pay £840,000 fine plus compensation to PPI customers following FSA investigation

July 2008: FSA fines Hastings Insurance Services Ltd (Hastings) £735,000 for not treating customers fairly

June 2008: FSA launches payment protection insurance comparison tables

May 2008: New FSA travel insurance regulation will protect consumers

July 2007:  FSA appoints new chief executive


See also: 

The Association of British Insurers  - ABI

British Insurance Brokers' Association  - BIBA

The Chartered Insurance Institute - CII

The Financial Ombudsman Service

Office of Fair Trading (OFT)

The Irish Insurance Federation (IIF)

Irish Financial Services Regulatory Authority - IFSRA


 

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