Financial Services Authority (FSA)

The Financial Services Authority (FSA) was the regulatory body in the UK responsible for overseeing financial markets and firms to ensure they operate fairly and transparently. Established in 2001 and dissolved in 2013, the FSA aimed to protect consumers, maintain market integrity, and promote competition. It regulated banks, insurance companies, and investment firms, ensuring they followed laws and standards. After its dismantling, the FSA's responsibilities were divided between the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) to enhance focus on consumer protection and financial stability.