The importance of regulation has never been greater. As the UK’s sole financial services regulator, the Financial Services Authority (FSA) works to maintain market confidence, target and reduce financial crime, and protect consumers.
By the end of 2013, the FSA will be replaced by two new regulatory bodies. These will carry forward our philosophy of outcomes-based regulation, intensive firm supervision and credible deterrence:
1. The Prudential Regulation Authority (PRA), a subsidiary of the Bank of England, will be responsible for promoting the stable and prudent operation of the financial system through regulation of all deposit-taking institutions, insurers and investment banks.
2. The Financial Conduct Authority (FCA) will be responsible for regulation of conduct in retail, as well as wholesale, financial markets and the infrastructure that supports those markets. The FCA will also have responsibility for the prudential regulation of firms that do not fall under the PRA’s scope.
To ensure a smooth transition, in April 2011 we made changes to our current internal structure – setting up the Prudential Business Unit (PBU) and a Conduct Business Unit (CBU) within the FSA.
This restructure of our working framework offers an exciting opportunity to make your mark in financial regulation. Wherever you are in your career, we have opportunities across our business for bright, ambitious people. From internships and graduate placements that take in the full breadth of the FSA’s responsibilities, to specialist programmes for IT, Economics, Risk and Management Accountancy – our structured development programmes will make the most of your talents and give you in-depth exposure to the UK financial industry.
Find out more on our Graduate Careers website.
