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Financial Services and Markets Bill is put to the house

The Financial Services and markets Bill was introduced into the House of Commons today.


The Bill provides the framework within which the Financial Services Authority will act as the single regulator.


It provides the FSA with a full range of statutory powers will create the Financial Services and Markets Tribunal, which will act as the court in the first instance for regulatory action by the FSA.


The Bill will set out the framework for a single ombudsman and compensation scheme to add further protection for consumers.

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