Lesson 7 Flashcards
1
Q
What is the FCA
A
Financial Conduct Authority
2
Q
What is the FOS
A
Financial Ombusment System
3
Q
What is the FSCS
A
Financial Service Compensation Schemes
4
Q
What does the FCA do
A
They are meant ensure honest and fair markets for individuals and the economy as a whole
5
Q
What does the FOS do
A
This service settles complaints between consumers and companies that provide financial services
6
Q
What does the FSCS do
A
This protects you from financial risk
7
Q
What is the OFT
A
Office Of Fair Trading
8
Q
What does the OFT do
A
The aim was to to make markets work well for consumers, ensuring vigorous competition between fair-dealing businesses and prohibiting unfair practices
