FSA (Financial Services Authority)

The Financial Services Authority (FSA) was a regulatory body in the UK responsible for overseeing financial markets and institutions, ensuring they operate fairly, transparently, and within the law. It protected consumers, maintained financial stability, and promoted competition. In 2013, the FSA was replaced by two organizations: the Financial Conduct Authority (FCA), which now regulates conduct and consumer protection, and the Prudential Regulation Authority (PRA), which oversees the stability of financial firms. This change aimed to improve regulation by focusing more clearly on financial stability and consumer interests.