Financial Services

Financial Intermediaries


The single regulator for financial services in the UK since December 2001 is the “FSA” – Financial Services Authority –  created and empowered by the Financial Services and Markets Act 2000 (FSMA) with 4 statutory objectives:-

  • market confidence
  • financial stability
  • consumer protection
  • reduction of financial crime

Although the FSA is an independent non-governmental body, it has statutory powers:

The FSA has a wide range of rule-making, investigatory and enforcement powers to enable us to meet four statutory objectives. Since November 2004 The FSA has regulated mortgage business and since January 2005, general insurance activities. Since November 2009 The FSA has regulated banks’ and building societies’ conduct of business, including payments services.  Approved Persons and Appointed Representatives are subject to regulation by the “FSA”

It is essential to seek legal advice if requests for information are received from the OFT

From January 2011, the regulation of financial services across Europe is now overseen by three European Supervisory Authorities (ESAs). (Read More)

More information on the ESAs can be found on their websites:

European Banking Authority

European Insurance and Occupational Pensions Authority

European Security and Markets Authority