6.The UK financial services industry accounts for approximately 7 per cent of GDP, employing over 1 million people in the City of London and across the country.
7.Businesses to be authorised and regulated under the Act include:
	Banks
	Building societies
	Insurance companies
	Friendly societies
	Credit unions
	Lloyd’s
	Investment and pensions advisers
	Stockbrokers
	Professional firms offering certain types of investment services
	Fund managers
	Derivatives traders
Background Financial Services Overview