X-Nico

5 unusual facts about Financial Services Authority


FCA Controlled Functions

The compliance oversight function is the function of acting in the capacity of a director or senior manager who is allocated by the Financial Services Authority the function of reporting to the governing body to ensure compliance with the rules set out in Conduct of Business, Collective Investment Schemes and Client Assets related operations.

Financial Services Act 2012

It replaces the Financial Services Authority with two new regulators, namely the Financial Conduct Authority and the Prudential Regulation Authority, and creates the Financial Policy Committee of the Bank of England.

Karin Forseke

Public directorships include non-executive director of the Financial Services Authority (FSA) Board, Eniro AB and the Royal Swedish Opera.

Oil futures drunk-trading incident

As a result of the trading, PVM Oil Futures suffered losses of almost $10 million and Perkins was dismissed, later being banned from trading by Financial Services Authority (FSA).

Pechiney

Brandeis (Brokers) Ltd was a broker and ring dealing member on the London Metal Exchange that operated as a subsidiary of Pechiney from 1981 through 2000, when it was banned from trading by the FSA.


European Union financial transaction tax

In 2009, Adair Turner (chair) and Hector Sants (CEO) of the UK Financial Services Authority both supported the idea of new global taxes on financial transactions.

IdeaPlane

With expertise in compliance, IdeaPlane's platform was tailored to keep companies compliant with the regulations set forth by organizations like the U.S. Financial Industry Regulatory Authority, Financial Services Authority and U.S. Securities and Exchange Commission.

Peer-to-peer lending

The license and registration can be obtained at a securities regulatory agency such as the U.S. Securities and Exchange Commission (SEC) in the U.S., the Ontario Securities Commission in Ontario, Canada, the Autorité des marchés financiers in France and Quebec, Canada, or the Financial Services Authority in the U.K.


see also

FSMA

Financial Services and Markets Act 2000, a UK law that created the Financial Services Authority

Leeds Building Society

On 1 August 2006, following approval by the Mercantile members and confirmation by the Financial Services Authority (FSA), Leeds Building Society merged with Mercantile Building Society.