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From today, financial firms will benefit from the launch of a new online 'personal handbook' service from the Financial Services Authority (FSA). This will allow any firm to build a 'personal handbook' containing only the rules and guidance relevant to it, simply by answering ten questions about its business.
The FSA's Handbook contains rules covering thousands of firms who are involved in the many and diverse types of business regulated by the FSA. As these range from multi-national investment banks to car dealers selling insurance, not all rules apply to all firms.
Andrew Whittaker, FSA director responsible for better regulation policy, said:
"Today's launch of our 'personal handbook' service will help firms to access the rules and guidance they need. This will help make us easier to do business with and contribute to better regulation."
Further improvements include:
- the ability to access the user's preferred handbook format with one click from the home page;
- 'focus on' handbooks to allow users to access key material on a particular topic;
- improved "time travel" to past and future versions of the Handbook;
- improved "What's New" and "Watched Topic" alerts;
- access to past versions of the full Handbook.
These new services are available on the FSA website at Handbook online.
Background
- "Time travel" enables firms to access previous and future versions of FSA rules and guidance simply by setting the date applicable. This will help firms plan future business developments.
- There will be a live demonstration of the 'personal' and 'focus on' handbook facilities at each of the upcoming regional roadshows for small firms.
- This new technology was developed in association with Sweet & Maxwell, a part of the Thomson Corporation, and a leading provider of information and solutions to the legal and professional markets in the UK and Ireland.
- The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and fighting financial crime.
- The FSA aims to promote efficient, orderly and fair markets, help retail consumers achieve a fair deal, and improve its business capability and effectiveness.
