Financial Services and Markets Act 2000

[F1 Enhancing public understanding of financial matters etc U.K.

Textual Amendments

F1 S. 6A and preceding cross-heading inserted (8.4.2010) by Financial Services Act 2010 (c. 28), ss. 2(5), 26(1)(b)

6A Enhancing public understanding of financial matters etc U.K.

(1) The Authority must establish a body corporate (“the consumer financial education body”) whose function (“the consumer financial education function”) is to enhance—

(a) the understanding and knowledge of members of the public of financial matters (including the UK financial system); and

(b) the ability of members of the public to manage their own financial affairs.

(2) The consumer financial education function includes, in particular—

(a) promoting awareness of the benefits of financial planning;

(b) promoting awareness of the financial advantages and disadvantages in relation to the supply of particular kinds of goods or services;

(c) promoting awareness of the benefits and risks associated with different kinds of financial dealing (which includes informing the Authority and other bodies of those benefits and risks);

(d) the publication of educational materials or the carrying out of other educational activities; and

(e) the provision of information and advice to members of the public.

(3) Schedule 1A makes further provision about the consumer financial education body.]