Barclays top compliance officer steps down

LONDON, Nov. 13 (UPI) -- British bank Barclays said Hector Sants, the head of its regulatory compliance office, has decided to step down from his post.

UPI NewsTrack Business

Markets close mixed ... RBS to pay $613 million for Libor fixing ... Trade group sues olive oil producer ... Motorcycle sales rose in 2012 ... Former treasury secretary lands a job ... News from United Press International.

RBS to pay $613 million for Libor fixing

LONDON, Feb. 6 (UPI) -- British and U.S. regulators said the Royal Bank of Scotland will pay $613 million to settle charges of manipulating the benchmark Libor interest rate.

UPI NewsTrack Business

Stocks flat Wednesday ... UBS to pay $1.5B to settle Libor charges ... Retail sales bounce back in week ... Housing starts slid in November ... News from United Press International.

UBS to pay $1.5B to settle Libor charges

WASHINGTON, Dec. 19 (UPI) -- Swiss bank UBS said Wednesday it would pay $1.5 billion to settle charges it attempted to manipulate critical benchmark interest rates.
Darling asks bankers to return to earth

Darling asks bankers to return to earth

LONDON, July 3 (UPI) -- Britain's Chancellor of the Exchequer Alistair Darling said some bankers have been "too complacent" about changing pay structures that encourage risk.

Frank opposed to single banking regulator

WASHINGTON, May 28 (UPI) -- House Financial Services Committee Chairman Barney Frank said Thursday he was opposed to the creation of a single U.S. banking regulator.

Top British banking regulator resigns

LONDON, Feb. 11 (UPI) -- A top British bank regulator, James Crosby, has resigned following an allegation he fired a bank risk assessor who warned HBOS it was taking too much risk.

London Scottish Bank files for protection

LONDON, Dec. 1 (UPI) -- London Scottish Bank filed for court protection Monday after the Financial Services Authority declared it could no longer accept deposits.

Foreclosures under review in Britain

LONDON, Nov. 28 (UPI) -- The Financial Services Authority, Britain's financial watchdog, has given lenders until Jan. 31, to review their policies on mortgage foreclosures.

Lloyds TSB shareholders approve merger

GLASGOW, Scotland, Nov. 19 (UPI) -- Lloyds TSB shareholders gave their approval Wednesday for the purchase of HBOS with 96 percent voting yes at a shareholder meeting in Glasgow, Scotland.

Barclays bank raises $11.8 billion

LONDON, Oct. 31 (UPI) -- Barclays has met its promise to British regulators to raise capital reserves by turning to sources in the Middle East for a cash infusion, the company said.

Several EU countries ban short sales

BERLIN, Sept. 22 (UPI) -- Several European countries, following the U.S. example, have now banned short sales of finance companies' shares to bring security to their volatile markets.

Financier has $20 million home seized

LONDON, Sept. 21 (UPI) -- A London financier has had his $20 million home seized by the bank in what is believed to be Britain's biggest-ever house repossession.

British banks on hook for mortgage fraud

LONDON, Aug. 30 (UPI) -- British banks may be on the hook for at least $12.7 billion in fraudulent mortgage loans given to drug gangsters and other scammers, industry observers say.
Page 1 of 2

The Financial Services Authority ("FSA") is an independent non-governmental body, quasi-judicial body and a company limited by guarantee that regulates the financial services industry in the United Kingdom. Its board is appointed by the Treasury. Its main office is based in Canary Wharf, London, with another office in Edinburgh. When acting as the competent authority for listing of shares on a stock exchange, it is referred to as the UK Listing Authority (UKLA), and maintains the Official list.

The FSA's Chairman and CEO are Lord Turner of Ecchinswell and Hector Sants.

The FSA has the legal form of a company limited by guarantee (number 01920623). It was incorporated on 7 June 1985 under the name of The Securities and Investments Board Ltd (SIB) at the instigation of the UK Chancellor of the Exchequer, who is the sole member of the company and who delegated certain statutory regulatory powers to it under the then Financial Services Act 1986. After a series of scandals in the 1990s culminating in the collapse of Barings Bank, there was a desire to bring to an end the self-regulation of the financial services industry and to consolidate regulation responsibilities which had been split amongst multiple regulators. The SIB revoked the recognition of The Financial Intermediaries, Managers and Brokers Regulatory Association (FIMBRA) as a Self-Regulatory Organisation (SRO) in June 1994 subject to a transitional wind-down period to provide for continuity of regulation whilst members moved to the Personal Investment Authority (PIA), which in turn was subsumed.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Financial Services Authority."
Most Popular