Definition of the Financial Services Authority from the Oxford Advanced Learner's Dictionary

 

the Financial Services Authority

 
BrE
 
; NAmE
 
(abbreviation the FSA)
 
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an independent organization set up in 1997 to control the UK financial services industry, including banks, insurance companies, credit card companies, etc. It was paid for by the industry itself and its job was to encourage good business practices, protect customers, deal with complaints and reduce financial crime. It was closed in 2013 and its work is now shared by two new organizations, the Financial Conduct Authority and the Prudential Regulation Authority.