FSA

Abbreviation that means flexible spending account. See dependent-care spending account .
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UK: See: Financial Services Authority.

FSA Handbook of Rules and Guidance

Presents and gives guidance on rules made under FSMA. Each of five blocks contains sections dealing with all aspects of financial services authorisation, compliance and enforcement, market structure, operation and oversight by the FSA. Block 1 sets out High Level Standards, applicable to firms and approved persons. Block 2 covers Business Standards applicable to firms. Block 3 covers Regulatory Processes, i.e. authorisation; supervision; enforcement; and decision-making. Block 4 deals with redress, i.e. particularly, compensation for investors, depositors and policyholders. Block 5 covers Specialist Sourcebooks, containing specialist information on areas such as: insurance; collective investment schemes; recognised exchange and clearing houses.

FSA Returns

Regulatory returns sent annually to the FSA and prepared for each regulated operating insurance company. FSA returns comprise detailed financial information on solvency, investments, business mix, claims and premiums, etc., and are publicly available. The FSA returns are prepared differently from the reports and accounts filed with Companies House.

FSAP

The Financial Sector Assessment Program of the International Monetary Fund is a comprehensive assessment of a country’s financial sector. This includes a financial stability assessment and, in developing and emerging markets, a financial development assessment. In jurisdictions with financial sectors deemed by the IMF to be systemically important, financial stability assessments under the FSAP are a mandatory part of surveillance under the IMF’s Articles of Agreement, and are supposed to take place every five years; for all other jurisdictions, participation in the program is voluntary. In developing and emerging market countries, FSAPs are conducted jointly with the World Bank.