Objectives of financial services authority
- FSMA provides four statutory objectives to FSA. They are:
- Market Confidence: Maintaining confidence in the financial system;
- Public Awareness: Promoting public understanding about the financial system;
- Consumer Protection: Securing the appropriate degree of protection for consumers; and
- Reduction of Financial Crime: Reducing to the extent it is possible for a business to be used for a purpose connected with financial crime.
- The aforesaid statutory objectives are supported by a set of principles of good regulation which are to be followed while discharging its functions.