Financial Services Authority

Financial Services Authority
Agency overview
FormedDecember 2001
DissolvedApril 2013
Superseding agency
JurisdictionUnited Kingdom
Headquarters25 North Colonnade
London, United Kingdom
Employees3,800
Agency executive
Websitewww.fsa.gov.uk

The Financial Services Authority (FSA) is a group who regulate banks and other financial companies in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government.[1] Its main office is based in Canary Wharf, London, with another office in Edinburgh. When acting as the competent authority for listing of shares on a stock exchange, it is referred to as the UK Listing Authority (UKLA).[2]

The FSA's Chairman and CEO are Lord Turner of Ecchinswell[3] and Hector Sants.

On June 16, 2010, the Chancellor of the Exchequer, George Osborne, announced plans to abolish the FSA and separate its responsibilities between a number of new agencies and the Bank of England.[4]

References

  1. ↑ "NDS.coi.gov.uk". Archived from the original on 2009-03-26. Retrieved 2011-06-15.
  2. ↑ "FSA.gov.uk". Archived from the original on 2011-06-13. Retrieved 2011-06-15.
  3. ↑ "Lord Turner confirmed chairman of FSA in its hour of need". Archived from the original on 2008-09-23. Retrieved 2011-06-15.
  4. ↑ Vina, Gonzalo. "U.K. Scraps FSA in Biggest Bank Regulation Overhaul Since! 1997". Businessweek. Bloomberg. Retrieved 16 June 2010.