The Financial Services Authority (FSA) has reiterated its commitment to a proactive, transparent and risk-based approach to financial regulation.
The organisation takes on its full powers as the single regulator of financial services in the UK from midnight on 30 November 2001.
FSA consumer director Christine Farnish said: "Our radical new approach to regulation will, for the first time, allow us to identify areas of potential consumer detriment at an early stage and to home in where risks to consumers are greatest."
She added that the FSA had already started to help consumers by providing information on financial products and services through its consumer fact sheets, CD rom, help line and web site.
"We have already introduced new rules to improve complaints handling by firms, and to set up the new single Ombudsman and compensation schemes.
"And we have already embarked on major reviews of with-profits products, the insurance sector, polarisation, advertising standards for financial services and point of sale information disclosure.
"We are also looking at the application of our new powers on unfair contract terms," she said.
