FSA - FINANCIAL SERVICES AUTHORITY

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The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. The FSA are a company limited by guarantee and financed by the financial services industry.  That said, they are providing a service to and for the public and are subject to such Acts as may regulate their conduct, such as the Data Protection Acts.

The Treasury appoints the FSA Board, which currently consists of a Chairman, a Chief Executive Officer, three Managing Directors, and 10 non-executive directors (including a lead non-executive member, the Deputy Chairman). This Board sets our overall policy, but day-to-day decisions and management of the staff are the responsibility of the Executive.

Information for Firms and Consumers

The FSA is accountable to Treasury Ministers, and through them to Parliament. It is operationally independent of Government and is funded entirely by the firms it regulates. The FSA is an open and transparent organisation and provides full information for firms, consumers and others about its objectives, plans, policies and rules, including through this website. An area of this website provides information specifically for consumers on financial products, regulation and their rights.

For further information, see the following main sections:

• What the FSA do

• Doing business with the FSA

Introduction to the FSA

The FSA has produced a CD-ROM which gives a concise overview for anyone wishing to understand the role of the regulator and gain an insight into the strategic thinking of their senior staff.

Nelson Kruschandl says:  "Organisations purporting to protect the 

public should operate policies of transparency and accountable!"

As an organisation offering free information to the public, we wrote to the FSA seeking clarification  as to issues of compliance.  Needless to say we did not receive a reply.  Unfortunately, the FSA has a reputation for self importance with respect to its position as a service provider for the benefit of the public - some say a law unto itself.  The fact our correspondence was not answered certainly does nothing to assuage our fears, but then we received the letter below:

With respect to the above letter, it appears that the FSA are seeking to prevent Max Energy Limited providing information about their organisation (the FSA) to the general public on a free basis.  One reason for this is that the Internet is a level playing field, a competitive situation many large organisations are not familiar with.  Using the Internet, a small concern, even an individual, can compete against the largest of companies and even government depertments, publication wise and have a voice, provided the smaller concern observes the rules.  Our advice to anyone confronted with this situation is don't be intimidated.  There are Anti-Trust and Anti-Monopoly laws which uphold your right to publish, investigate and expose potential Cartels.  Stick to the facts and if necessary make formal complaint to the authorities. Copyright law does not protect Cartels, etc.  In this instance, the FSA has been granted a state monopoly.  However, it is responsible to the electorate and to courts.

It is a common mistake and worthy of note that many people believe copyright exists in simple lists, such a telephone directories.  Also, there is no intellectual property in an address.  Accordingly, one does not need permission to provide such information to the public.  In our case we are a not for profit concern.  The reason we give free information to the public in diverse fashion, is simply that, to ensure the freedom of information.  Some people may believe the above letter and the method of delivery are designed to harass. We will be replying to the FSA in due course and you are invited to follow the communications.

Chairman

Sir Callum McCarthy

Sir Callum McCarthy joined the FSA in September 2003 from the Office of Gas and Electricity Markets where he was Chairman and Chief Executive.

Sir Callum McCarthy's full biography

Deputy Chairman

Dame Deirdre Hutton, CBE

Deirdre Hutton joined the FSA Board in December 1997 and was appointed Deputy Chairman on 1 April 2004. She is Chairman of the Food Standards Agency and Vice Chairman of the European Food Safety Authority.

Formerly Deirdre was Chairman of the National Consumer Council, the Scottish Consumer Council and the Personal Investment Authority Ombudsman Bureau. Deirdre was also a member of the Better Regulation Task Force until June 2005.

Dame Deirdre Hutton's full biography

Chief Executive, FSA

John Tiner

John Tiner was appointed FSA Chief Executive in September 2003. He joined the FSA in April 2001 as Managing Director of Consumer, Investment and Insurance Directorate following a broad-ranging career at Arthur Andersen.

John Tiner's full biography

• About the FSA

  • Emergency news for staff

  • Planned maintenance

  • Who are we

    • The Board

    • Management structure

    • Accountability

    • How we are funded

    • History

    • Useful links

  • What we do

    • Who we regulate

    • Regulatory approach

    • Better regulation

    • Supporting consumers

    • International and EU

    • Corporate social responsibility

  • Aims and objectives

    • Statutory objectives

    • Principles of good regulation

  • FSA Publications

    • Financial Risk Outlook

    • Business Plan

    • Annual Report

  • FSA Sectoral teams

    • Asset Management

    • Banking

    • Capital Markets

    • Consumer

    • Financial Crime

    • Financial Stability

    • Insurance

    • Retail Intermediaries

  • Media Centre

    • Topics of interest

    • Briefing notes

    • Facts and figures

    • Press office

  • Teaching and learning

  • Careers

    • Working at the FSA

    • Experienced professionals

    • Graduate development programme

    • Legal development programme

    • Summer internships

    • Search and apply

  • Complaints about the FSA

    • Before you complain

    • Contacting us

    • Complaints schemes

    • Complaints procedure

• Doing business with the FSA

  • Do I need to be authorised?

  • How do I get Authorised

    • Applying for passporting

  • Being regulated

    • Taping of FSA staff

    • Approved Persons

    • Paying Fees

    • Reporting Requirements

    • Notifications and applications

    • Financial Promotions

    • Treating customers fairly

    • Consumer protection powers

    • Relationship management and risk assessment

    • Firms Online

    • Enforcing the Law

  • How do I cancel my authorisation?

  • Small Firms

    • General information

    • General insurance firms

    • Financial advisers

    • Mortgage firms

    • Corporate finance firms

    • Investment management and securities & futures firms

    • Authorised professional firms

    • Mutual Societies

    • Friendly societies

    • Credit unions

  • Industry Training

    • Tailored in-house training

    • Distance Learning

    • Events

    • Workshops

  • UK Listing Authority

    • Electronic submission of documents to the UKLA

    • Sponsors

    • Contact details

    • UKLA Issuer List

    • UKLA Official List

    • Regulatory Information Services

    • Qualified Investor Register

    • Forms & checklists

  • How to contact us

    • Register for email updates

    • Whistleblowing

    • Requesting an FSA speaker

• FSA Library

  • Latest publications

  • Corporate documents

    • Annual Public Meetings

    • Annual Reports

    • Board Meetings: summary minutes

    • Business Plan

    • Financial Risk Outlook and International Regulatory Outlook

    • Memorandums of understanding

    • The Performance Account

  • Policy documents

    • Consultation papers

    • Discussion papers

    • Guidance notes

    • Handbook material

    • Occasional papers

    • Policy statements

    • Pre-FSA regulatory material

  • Communication documents

    • Dear CEO letters

    • Enforcement notices and application refusals

    • Forms

    • Newsletters

    • Press releases

    • Speeches

    • Statements

  • Other publications

    • Complaints about the FSA - our responses

    • Consumer research publications

    • EU information

    • Financial capability publications

    • List of banks

    • Logos and photos

    • Market conduct information

    • Miscellaneous documents

    • Money laundering information

    • Pension reviews

    • Pensions publications

    • Published waivers

    • Recommended or prescribed consumer publications

    • Staff operations and processes

    • UKLA publications

    • With-profits review

  • Publications by date

    • 2005

    • 2004

    • 2003

    • 2002

    • 2001

    • 2000

    • 1999

    • 1998

    • 1997

    • 1996

    • 1995

    • 1994

  • Ordering printed copies

• FSA Handbook

• FSA Register

  • Online Register Service updates

• Consumer information

• Site map

• Help

  • Browser information

  • Navigating the site

• Legal information

• Privacy policy statement

• Freedom of information

  • Freedom of information - requesting publications

  • Overview of the FSA

  • Administrative arrangements

  • Classes of information

    • Classes: Overview of the FSA and contacting us

    • Classes: Consumers FSA help & information

    • Classes: FSA Governance and accountability

    • Classes: The FSA as Regulator

    • Classes: The FSA Register

    • Classes: Other functions of the FSA

    • Classes: Links

  • Request for information

    • Thankyou

  • Fees statement

• Accessibility

This website is Copyright © 1999 & 2006  NJK.   The bird logo and name Solar Navigator are trademarks. All rights reserved.  All other trademarks are hereby acknowledged.       Max Energy Limited is an educational charity.

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