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Financial Services and Markets Act (FSMA)

Financial Services and Markets Act

The UK Financial Services and Markets Act (2000) created the Financial Services Authority (FSA) as a regulator for insurance, investment and banking, and the Financial Ombudsman Service to resolve disputes as a free alternative to the courts. It also created the Financial Conduct Authority and the Prudential Regulation Authority to supervise banks, building societies, credit unions, insurers and major investment firms.