The Fsa

The Financial Services Authority (FSA) was set up by the giving medication in tack together to regulate the monetary constancy in the unify Kingdom. We were established by an Act of rooter tan in 2000 and formally gained our superpowers on 1 declination 2001 (http://www.fsa.gov.uk/Pages/ near/Media/Facts/index.shtml). Although the government created the FSA it is an mugwump body and receives no government funding. We ar funded entirely by the firms we regulate. However, we are accountable to the treasury and, through and through them, Parliament. (http://www.fsa.gov.uk/Pages/ab come forth/index.shtml). As the FSA are an independent body it is the tabular array members that make decisions on overall policies and day to day decisions not the government. The FSA regulates most big and splendid business in the United Kingdom and Europe much(prenominal) as financial service markets and small online businesses. We regulate whatsoever 29,000 firms which contributes 6 .8% of UK GDP. (http://www.fsa.gov.uk/Pages/well-nigh/Media/Facts/index.shtml). The parliament gave the FSA quad specific objectives to carry out in order to discipline that the UK markets work effectively to mouth benefits to both the firms and consumers.

Maintaining market say-so; contributing to the security measure and sweetener of the stability of the UK financial trunk; securing the appropriate degree of protection for consumers; and fighting financial offence.(http://www.fsa.gov.uk/Pages/About/Media/Facts/index.shtml). The FSA has the power to fine businesses or individuals who commits a financial crime . It is executable to see who the FSA has f! ined over the age as they keep a record of this on their formalised website. Currently total measuring stick of fines in 2010 is £84,966,599. By fining business for committing a financial crime the FSA expects to reduce the overall amount of fraud, money laundering and transplant within the UK financial industry. Over the years the government has attached the FSA more power and responsibilities. With all the roles and...If you want to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper