Financial Services Authority (FSA)
UK Consumers and businesses using the Officefile web site to locate and buy financial and insurance products need to be aware of the role, services and workings of the Financial Services Authority.
The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. They are a company limited by guarantee and financed by the financial services industry. The FSA has one overall aim:
- To promote efficient, orderly and fair markets and to help retail consumers achieve a fair deal.
The FSA sets out to protect the rights of Consumers who interact with companies operating in the UK financial services market. The FSA web site is expertly laid out and easy to navigate. Their is a section titled Warnings and Alerts which provides consumers with all the latest news and advice about issues in the financial services sector. We have also provided brief details and links to other important areas of interest to consumers:
FINANCIAL PLANNING
Thinking of buying a new house, investing money, starting a pension,
complaining about a product or service, or comparing products and services?
CREDIT & DEBT
This section is designed to answer a series of frequently asked questions
on credit and debt.
INSURANCE
Insurance helps to protect you against unpredictable risks. This FSA
section will help you to decide whether you need insurance, what type
of insurance you should buy and how to shop around for it. It also explains
what information you will receive once you have chosen a policy and
your rights once you have bought.
PENSIONS
The information in this section is based on the legal and tax position
at April 2006. The FSA have included changes that came into effect in
April 2006 and have provided a link to these on each page.
MORTGAGES
The FSA regulates most mortgage sales taken out on or after 31 October
2004. This section aims to help you choose the right mortgage.
INVESTMENTS
This section is designed to help you to understand the difference between
the types of investment available, how they work and the best way to
shop around. The FSA have a section covering our top tips of things
to look out for.
SAVINGS
This section guides you through the types of saving accounts available
to you. Use the shop around section to see what you should check out
and how to compare products.
Complaints about the FSA
Anyone directly affected by the way in which the FSA has exercised,
or failed to exercise, its functions (other than its legislative functions)
under the Financial Services and Markets Act 2000 (FSMA) may complain
about the FSA's alleged misconduct using the FSA Complaints Scheme.
