Is there an equivalent to the FSA in Spain and do they cover money held in bank account / investment accounts? I think it’s the CNMV but not sure how much they cover or who it applies to or how you can check if a company is a member?

Galeel - 21 October 2010 12:26 AM

Every country that has a banking and finance system needs some sort of entity to regulate it… after all, simply allowing banks and financial companies to run independently without any sort of system of checks and balances would almost certainly lead to corruption and disaster. In the UK , the regulatory entity of the financial system is the Financial Services Authority, or the FSA, and is operated independently of the government in an effort to offer a non-governmental control of the financial industry.

stock update

Sorry I should have been a bit more specific.
It’s not the existence of an authority but more whether they cove rlosses in the event of bank or company failure? For example, the FSA cover 50k in the UK in case the approved company goes bust and you have your money with them.