The Financial Services Act is a piece of legislation designed to regulate and oversee financial services in a country. It aims to ensure that financial institutions operate fairly, transparently, and in the best interest of consumers. The Act typically covers areas such as banking, insurance, and investment services, providing a framework for compliance and risk management. This Act often establishes regulatory bodies, such as the Financial Conduct Authority or Securities and Exchange Commission, which are responsible for enforcing the rules and protecting consumers. By setting standards and guidelines, the Financial Services Act helps maintain stability in the financial system and fosters public confidence in financial markets.