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The Financial Services Authority (FSA) is responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury, although it operates independently of government. It is structured as a company limited by guarantee and is funded entirely by fees charged to the financial services industry. | The Financial Services Authority (FSA) is responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury, although it operates independently of government. It is structured as a company limited by guarantee and is funded entirely by fees charged to the financial services industry. | ||
On 19 December 2012, the Financial Services Act, 2012 received royal assent abolishing the FSA with effect on 1 April 2013. Its responsibilities will be split between the Prudential Regulatory Authority and the Financial Conduct Authority. | On 19 December 2012, the Financial Services Act, 2012 received royal assent abolishing the FSA with effect on 1 April 2013. Its responsibilities will be split between the [[Prudential Regulatory Authority]] and the [[Financial Conduct Authority]]. | ||
Revision as of 16:58, 11 February 2013
The Financial Services Authority (FSA) is responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury, although it operates independently of government. It is structured as a company limited by guarantee and is funded entirely by fees charged to the financial services industry.
On 19 December 2012, the Financial Services Act, 2012 received royal assent abolishing the FSA with effect on 1 April 2013. Its responsibilities will be split between the Prudential Regulatory Authority and the Financial Conduct Authority.