FSA Info Part 5
FSA UK Background & Information part 5
Retail Consumers
The FSA is claimed to have a priority of making retail markets for financial products and services work more effectively in order to help retail consumers to get a ‘fair deal’.
For some years, the UK Financial Services Authority has developed work to raise levels of confidence and ability among consumers. Since 2004 this work has been described as a ‘national strategy on building financial capability in the United Kingdom’.
In June 2006, the FSA created its Retail Distribution Review (RDR) program supposedly to help enhance ‘consumer confidence in the retail investment market’. For that purpose RDR supports clear education of consumers about different types of services available, improved professional standards in the financial industry, and fair practices in remuneration for financial advice. The RDR has a target for full-implementation to be complete by 31 December 2012.
Current Board Members of the FSA
The Board members at the FSA are appointed by HM Treasury and currently are as follows:
• Adair Turner – Chairman
• Deputy Chairman – vacant, following resignation of Sir James Crosby
• Hector Sants – Chief Executive, formerly CEO EMEA Credit Suisse First Boston
• Jon Pain – Managing Director of Retail Markets, the FSA
• Sally Dewar – Managing Director of Wholesale Markets, the FSA
• David Kenmir – Chief Operating Officer, the FSA
• Carolyn Fairbairn – Non-exec Board member, Director of Strategy and Development at ITV
• Peter Fisher – Non-executive Board member, Managing Director of BlackRock
• Brian Flanagan – Non-executive Board member, formerly a Vice President of Mars Inc
• Karin Forseke – Non-executive Board member, formerly CEO of Carnegie Investment Bank AB
• Sir John Gieve – Non-exec Board member, Deputy Governor, Financial Stability of Bank of England
• Professor David Miles – Non-exec Board member, Managing Director & Chief UK Economist at Morgan Stanley
• Michael Slack – Non-exec Board member, Director of the British Insurance Brokers’ Association
• Hugh Stevenson – Non-exec Board member, Chairman of the FSA Pension Plan Trustee Ltd
Finally here is a little video to ensure everyone feels safe and warm knowing that the FSA is all around us like a big, soft, snuggly safety blanket, enveloping us all in their love and security. 
Note the last four words.
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