Brief overview of how financial advisers are regulated

In the UK, financial advisers are regulated by some of the toughest legislation in the world. This is designed to reduce the chance of you losing your money through fraud or negligence by an agent or investment institution.

From 1 December 2001, the Financial Services Authority (FSA) became a single statutory regulator for the entire financial services industry including banks, building societies, investment and insurance companies as well as financial advisers. Protection of consumers remains at the top of its agenda with the regulator having four statutory objectives:

  1. To maintain confidence in the UK financial system
  2. To promote public understanding of the financial system
  3. To secure the right degree of protection for consumers
  4. To contribute to reducing financial crime

More information about the FSA can be found on the FSA website.

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Issued by: CMI Insurance Company Limited Clerical Medical House, Victoria Road, Douglas, Isle of Man IM99 1LT, British Isles, Registered in the Isle of Man, Registered No. 33520. CMI Fund Managers (IOM) Limited Clerical Medical House, Victoria Road, Douglas, Isle of Man IM99 1LT, British Isles, Registered in the Isle of Man, Registered No. 40572. Telephone: +44 (0)1624 638888. Fax: +44 (0)1624 625900. CMI Fund Managers (IOM) Limited is licensed by the Financial Supervision Commission of the Isle of Man. Approved by Clerical Medical Financial Services Limited, 33 Old Broad Street, London EC2N 1HZ, United Kingdom. Registered No. 2114901. Clerical Medical Financial Services Limited is authorised and regulated by the Financial Services Authority for the protection of investors, whose rules and regulations are made under the Financial Services and Markets Act 2000 and apply only to investment business. ©Copyright CMI Insurance Company Limited 2008.