Date for N2 Announced

United Kingdom
12/07/2001
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Economic Secretary Ruth Kelly has announced that the Financial Services Authority (FSA) will become the statutory regulator under the Financial Services and Markets Act 2000 (FSMA) with effect from midnight 30 November 2001.

Ruth Kelly said, "FSMA will, for the first time, unite a wide array of legislation and supervisory bodies under one statutory regulator. The FSA will be a single point of contact for firms. Alongside this will operate the Financial Ombudsman Service to deal with customer complaints. This will bring much needed clarity, certainty and transparency to the industry and consumers alike."

For further details of the announcement please go to: http://www.hm-treasury.gov.uk/

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