FSA (UK regulator)

    By
    Andrey Orlov
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    Note:

    In 2013, the FSA was abolished after the Financial Services Act 2012 came into force, changing the framework for regulation of the financial sector. The FSA was replaced by the Financial Conduct Authority (FCA).

    The Financial Services Authority

    The Financial Services Authority (FSA) is the financial regulation body of the United Kingdom.

    The FSA is an independent non-governmental body. Its board is appointed by the Treasury (the UK government department for finance). It is based in London, with an office in Edinburgh, and funded through the fees it charges to financial institutions.

    As London is one of the largest international market places, the UK financial services regulator plays a key role in international regulation as well. As the competent authority for listing of shares on a stock exchange, the FSA is also referred to as the UK Listing Authority (UKLA).

    The FSA’s remit includes four statutory objectives:

    • Maintain confidence in the financial system
    • Protect and enhance the UK financial system’s stability
    • Protect consumers and traders
    • Reduce financial crime

    Also see: