The Financial Services Authority

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The Financial Services Authority
A Consumer Council guide to
www.fsa.gov.uk
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• The Financial Services Authority
• The Financial Services Authority (FSA) is the
  UKs independent financial regulator set up by
  Government.
• The FSA have a wide range of rule-making,
  investigatory and enforcement powers to regulate
  financial services in the UK, such as banks,
  building societies, credit unions and financial
  advisers.

www.fsa.gov.uk www.fsa.gov.uk
www.fsa.gov.uk
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• The Financial Services Authority
• They are operationally independent of Government
  and funded entirely by the firms they regulate.

www.fsa.gov.uk www.fsa.gov.uk
www.fsa.gov.uk
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• The Financial Services Authority
• The FSA works to protect the rights of consumers
  who use financial services in the UK.
• They aim to do so by promoting efficient, orderly
  and fair financial markets.

www.fsa.gov.uk www.fsa.gov.uk
www.fsa.gov.uk
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• What the FSA do
• The Financial Services and Markets Act gives the
  FSA four statutory objectives
• market confidence maintaining confidence in the
  financial system
• public awareness promoting public understanding
  of the financial system
• consumer protection securing the appropriate
  degree of protection for consumers and
• the reduction of financial crime reducing the
  extent to which a business can be used for a
  purpose connected with financial crime.

www.fsa.gov.uk www.fsa.gov.uk
www.fsa.gov.uk
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• FSA Strategic Aims
• These objectives are supported by a set of
  Principles of Good Regulation, both can be
  summarised into three Strategic Aims
• Promoting efficient, orderly and fair markets
• Helping retail consumers achieve a fair deal
• Improving our business capability and
  effectiveness

www.fsa.gov.uk www.fsa.gov.uk
www.fsa.gov.uk
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• FSA Services
• In order to meet these strategic aims, the FSA
  set the standards that all financial services
  organisations in the UK must meet. Failure to do
  so will result in action being taken.

www.fsa.gov.uk www.fsa.gov.uk
www.fsa.gov.uk
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• Money made clear
• The FSA also have a money made clear website that
  is consumer friendly, cuts out the jargon and
  gives consumers the facts about financial
  products and services in the UK
• The website is aimed at helping consumers to make
  informed financial decisions

www.moneymadeclear.fsa.gov.uk
www.moneymadeclear.fsa.gov.uk
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• Money made clear
• This website
• Compares financial products e.g. mortgages
• Has useful tools e.g. financial health checkers
  and printed guides
• Explains financial products e.g. loans, bank
  accounts and pensions
• Keeps you up to date of the latest scams and
  swindles

www.moneymadeclear.fsa.gov.uk
www.moneymadeclear.fsa.gov.uk
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The FSA have also created the What About Money?
website aimed directly at young people aged 16
and over to help them take control of their
personal finances.
www.whataboutmoney.info
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The website contains information about a range of
important financial stages in life including
leaving home and going to university. This site
has collected a number of relevant articles on
issues such as student loans grants part-time
working and budgeting.
www.whataboutmoney.info
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How to contact the Financial Services
Authority Post 25 The North Colonnade,Canary
Wharf,London E14 5HS (Company No.
01920623) Telephone Main switchboardFrom UK
020 7066 1000
www.fsa.gov.uk www.fsa.gov.uk
www.fsa.gov.uk