FSA confirms Derbyshire Building Society merger with the Nationwide Building Society
FSA/PN/138/2008
21 November 2008
The Financial Services Authority (FSA) today announced that it has confirmed the proposed transfer of the engagements of the Derbyshire Building Society to the Nationwide Building Society.
Copies of the FSA’s written decision are available on the FSA website.
The document sets out the reasons for the FSA's decision. 109 written representations were received by the FSA and one person made oral representations at a Hearing held in London on 22 October 2008. Copies of the decision will be sent to each society and to those who made representations.
Notes for editors
- The FSA has certain responsibilities in respect of a transfer of engagements of one building society to another under sections 94 to 96 of the Building Societies Act 1986.
- The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and fighting financial crime.
- The FSA aims to promote efficient, orderly and fair markets, help retail consumers achieve a fair deal and improve its business capability and effectiveness.