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The Financial Services and Markets Act 2000 (c. 8) is an act of the Parliament of the United Kingdom that created the Financial Services Authority (FSA) as a regulator for insurance, investment business and banking, and the Financial Ombudsman Service to resolve disputes as a free alternative to the courts.
Many banks in the US let customers use personal financial management software to automatically download their bank statements in OFX format, but most Canadian, [7] [8] [9] United Kingdom and Australian banks do not allow this, however, many banks do support downloading financial data in OFX, QFX, QIF, or spreadsheet format via their web interface for later import into financial software.
The sector contributed a gross value of £86 billion to the UK economy in 2004. [3] The industry employed around 1.2 million people in the third quarter of 2012 (around 4% of the British workforce). The estimated amount of total taxes paid by the Financial Services Sector in the year to 31 March 2012 is £63bn, 11.6% of the total UK government ...
It is an operationally independent body, set up under the Financial Services and Markets Act 2000 and funded by a levy on authorised financial services firms. The rules of the FSCS are made by the Financial Conduct Authority (FCA) and are contained in its handbook. [2] The FSCS board of directors is appointed by and ultimately accountable to ...
In the UK, where all companies are required to file in iXBRL, the main commercial accounting packages all provide iXBRL export of financial reports. The financial report is produced as a Microsoft Word or Microsoft Excel document, and a "Tagging Program" is used to add the XBRL concept metadata and to export the document as Inline XBRL.
The Financial Services Act 2012 is an Act of the Parliament of the United Kingdom which implements a new regulatory framework for the financial system and financial services in the UK. It replaces the Financial Services Authority with two new regulators, namely the Financial Conduct Authority and the Prudential Regulation Authority , and ...
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An example of a UK regulated market is the London Stock Exchange's Main Market. The list is updated several times a day between 8am and 6.05pm UK time; it will include details of listed securities such as description, country of origin and market status. [2] The list is held in accordance with Section 74(1) of the British Financial Services and ...