Part I The Regulator

F1Enhancing public understanding of financial matters etc

Annotations:
Amendments (Textual)
F1

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

6AEnhancing public understanding of financial matters etc

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.