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FSA/PN/040/2009
20 March 2009

The Financial Services Authority (FSA) today announced that it has confirmed the proposed transfer of the engagements of the Scarborough Building Society to the Skipton Building Society.

Written decision

The document sets out the reasons for the FSA's decision.  Seventeen written representations, including two notices (subsequently withdrawn) of intention to make oral representations, were received by the FSA.  Copies of the decision will be sent to each society and to those who made representations.

Notes for editors

1. The FSA has certain responsibilities in respect of a transfer of engagements of one building society to another under sections 42B and 94 to 96 of the Building Societies Act 1986.
2. 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.
3. The FSA aims to promote efficient, orderly and fair markets, help retail consumers achieve a fair deal and improve its business capability and effectiveness.