Financial Services Authority

The Financial Services Authority (FSA) was a regulatory body in the United Kingdom responsible for overseeing financial markets and firms to ensure they operated fairly and transparently. Established in 2001, it aimed to protect consumers, maintain market integrity, and promote competition. The FSA regulated banks, insurance companies, and financial advisors, ensuring they followed laws and upheld standards. In 2013, its functions were transferred to new organizations: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), which continued its mission to safeguard the financial system and promote confidence among consumers and investors.