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 the overall policy, but day-to-day decisions and management of the staff are the responsibility of the Executive.

The FSA's aim is to promote efficient, orderly and fair financial markets and help retail financial service consumers get a fair deal.

The FSA regulates most financial services markets, exchanges and firms. It sets the standards that they must meet and can take action against firms if they fail to meet the required standards. 

The FSA has set out its aims under three broad headings:

    * promoting efficient orderly and fair markets;
    * helping retail consumers achieve a fair deal; and
    * improving our business capability and effectiveness

Treating Customer Fairly (TCF) is one of the FSAs high profile initiatives launched to ensure their objectives are met.

^{Text taken in part from the FSA website. www.fsa.gov.uk}