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Financial Services Authority Information Providers for IFA's

Read Financial Services Authority Company Review...click here

Financial Services Authority Information Providers for IFA's

Financial Services Authority are an independent body that regulates the financial services industry in the UK.

Financial Services Authority have four main aims:

• Maintaining confidence in the UK financial system
  Financial Services Authority achieve this by, among other things, supervising exchanges, settlement houses and other market infrastructure providers; conducting market surveillance; and transaction monitoring.
  
  
• Promoting public understanding of the financial system
  Financial Services Authority help people gain the knowledge, aptitude and skills they need to become informed consumers, so that they can manage their financial affairs more effectively.
  
  
• Securing the right degree of protection for consumers
  Vetting at entry aims to allow only those firms and individuals satisfying the necessary criteria (including honesty, competence and financial soundness) to engage in regulated activity. Once authorised, Financial Services Authority expect firms and individuals to maintain particular standards set by them. They monitor how far firms and individuals are meeting these standards. Where serious problems arise they investigate and, if appropriate, discipline or prosecute those responsible for conducting financial business outside the rules. Financial Services Authority can also use their powers to restore funds to consumers.
  
  
• Helping to reduce financial crime
  Their work focuses on three main types of financial crime: money laundering; fraud and dishonesty; and criminal market misconduct such as insider dealing.

While working towards these objectives, Financial Services Authority bear in mind:

• the need to use resources in the most economic and efficient way;
  
• the responsibilities of the management in regulated firms;
  
• the need to balance the burdens and restrictions on firms with the benefits of regulation for consumers and the industry;
  
• the need to allow innovation;
  
• the international character of financial services and markets and the UK’s competitive position; and
  
• the value of competition between financial firms.

For further information on Financial Services Authority Information Providers for IFA's visit the Financial Services Authority website.