Regulating Financial Services: index
In 1997 significant changes were made to the UK’s regulatory framework. A single statutory body for financial regulation, the Financial Services Authority (FSA), was set up. In addition a tripartite structure for overseeing the UK financial system was established, with distinct roles for the Treasury, the Bank of England and the FSA.
Financial Services and Markets Act
The Financial Services and Markets Act, which came into force on 1 December 2001, gave the FSA its statutory powers.