About the FSA

The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. They are a company limited by guarantee and financed by the financial services industry.  The Treasury appoints the FSA Board, which currently consists of a Chairman, a Chief Executive Officer, three Managing Directors, and 9 non-executive directors (including a lead non-executive member, the Deputy Chairman). This Board sets their overall policy, but day-to-day decisions and management of the staff are the responsibility of the Executive.

The FSA is accountable to Treasury Ministers, and through them to Parliament. It is operationally independent of Government and is funded entirely by the firms it regulates. The FSA is an open and transparent organisation and provides full information for firms, consumers and others about its objectives, plans, policies and rules, including through this website. An area of this website provides information specifically for consumers on financial products, regulation and their rights.

The FSA is an independent body that regulates the financial services industry in the UK. They have been given a wide range of rule-making, investigatory and enforcement powers in order to meet their four statutory objectives, which are:

• market confidence: maintaining confidence in the financial system;
• public awareness: promoting public understanding of the financial system;
• consumer protection: securing the appropriate degree of protection for consumers; and
• the reduction of financial crime: reducing the extent to which it is possible for a business to be used for a purpose connected with financial crime.

To find out more about the Financial Services Authority click here.