FSA (The Financial Services Authority) - Office of the Financial Services Authority UK, which is an independent non-governmental body that regulates the activities of investment, banking and financial services companies, acts accordingly, "Financial Services Act 2000 and the rink."
Since the company is limited to the financing of the companies that control, it is an organization that is completely independent of the British government. Authorized purposes of the Office is to maintain a high degree of confidence in the UK financial markets, public awareness, promoting and protecting the stability of the financial system, the protection of consumer rights and the reduction of crime in the financial market, namely the prevention of fraud, abuse and manipulation. As for the market Forex, FSA interprets this activity as bookmaking, introducing very strict limits on such companies.
Basic principles of FSA regulation
- To avoid undue interference in the activities of the Office of Companies, the principle - the role of management. That is, the top management of the company is responsible for their own actions and give legitimacy to the business. Accordingly, it is required to manage the risk and internal control activities, sharing duties and responsibilities. Thus, the firm will be able to ensure that its work can always be adequately tested and controlled.
- The principle of proportionality implies that the restrictions imposed on the industry, are proportional to the benefits that are expected from them. When the FSA make such decisions, it pays attention to consumer prices and companies. In this carefully analyzed the profitability of proposed regulatory requirements.
- To not unduly restrict market participants during the launch of new financial services and products, FSA provides space for different ways to use the law. Therefore welcome innovation in regulatory activity.
- To remain competitive in the international market of Great Britain, the activities of FSA is international. That is, management takes into account the competitive position of the country, and global aspects of the financial business. So, FSA to cooperate with the other countries to agree to international standards and to monitor the effectiveness of global markets and companies.
- FSA stands for minimizing the negative effects of competition and a healthy competition between firms. The Office therefore avoids unnecessary regulatory barriers to start or expand a business. In the analysis of the profitability of competition and innovation are essential.
- The efficiency and effectiveness - the principles used by FSA for the use of resources
- conclusion / performance of contracts of insurance
- issuance of electronic money
- adoption and investment management
- advising on deposits
- Establishment of a real estate
- operations in the insurance market Lloyd
- organization of pension schemes
- organization of collective investment programs
- conducting transactions in investments
Among the brokers, that are licensed FSA, the following companies:
- FOREX.com
- FIBO Group
- ICM Brokers
- Saxo Bank (Saxo Bank)
- FXCM
- OANDA (Oanda)
- GFT
They all occupy a leading position in the top league ranking of brokers and Dealing Centers, with good results, and the remaining 17 criteria for evaluating their performance.
Brokerage License FSA, as well as two other prestigious in the world licensed NFA and CFTC, forex brokers in the ranking is the highest with 70 points.
