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Simple English definitions for legal terms
Financial Services Agency
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A quick definition of Financial Services Agency:
Financial Services Agency: The group that makes sure that banks, stock markets, and other money-related businesses in the United Kingdom are following the rules and being fair to their customers. They used to be called the Securities and Investment Board.
A more thorough explanation:
The Financial Services Agency is a regulatory body that oversees the financial-services industry in the United Kingdom. This includes exchanges and related entities. It was formerly known as the Securities and Investment Board.
Examples of entities that fall under the oversight of the Financial Services Agency include:
- Stock exchanges
- Investment banks
- Insurance companies
- Mutual funds
These examples illustrate the wide range of financial institutions that the Financial Services Agency is responsible for regulating. By overseeing these entities, the agency helps to ensure that they operate in a fair and transparent manner, and that they comply with relevant laws and regulations.