Financial Services Authority

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Financial Services Authority
Agency overview
FormedDecember 2001
DissolvedApril 2013
Superseding agency
JurisdictionUnited Kingdom
Headquarters25 North Colonnade
London, United Kingdom
Agency executive

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[change | change source]

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