What's the regulatory authority in the UK for securities exchanges?

Answer 1

The regulatory authority in the U.K. for securities exchanges is the Financial Services Authority (FSA).

Stated on the Authority's website, http://www.fsa.gov.UK/ , the FSA was "...given statutory powers by the Financial Services and Markets Act 2000." It has either subsumed or replaced regulatory functions of the smaller U.K. self-regulatory organisations (SROs), the:

o Securities and Futures Authority (SFA)

o Investment Management Regulatory Organisation (IMRO)

o Personal Investment Authority (PIA), and

o Securities and Investment Board (SIB)

Its organisation is similar to that of the Financial Industry Regulatory Authority (FINRA), the main SRO in the U.S., but FSA is responsible for greater direct accountability to the government (via Parliament) than FINRA is to the Securities and Exchange Commission (SEC). However, both entities are involved in implementing and pushing government regulations and monitoring strategies into market activities. Both Authorities are actively involved in consumer and investor education and quality assurance, transparency and public awareness of capital markets and their role in the global economy.