Our governance

FSCS's governance and strategic direction is the responsibility of its Board of Directors. Under the Financial Services & Markets Act 2000 (FSMA), the UK regulators (the Financial Conduct Authority and the Prudential Regulation Authority) appoint the directors on terms that ensure they run FSCS independently of the UK regulators. The Chair and Chief Executive Officer's appointment (and removal) are subject to Treasury approval.

FSCS is independent of the UK regulators, although accountable to them.

The roles and responsibilities (pdf 210KB) of our Directors are set out in a separate document, and our Articles of Association (pdf 194KB) set out how the company is run and governed. 

The FSCS Board carries out formal and rigorous evaluations of its own performance, and that of its committees, usually once a year. These evaluations are externally facilitated every three years. Here is a summary (pdf 73KB) of the external evaluation.

The Board also has a formal schedule of matters reserved (pdf 47KB) for its decision and has delegated certain responsibilities to committees of the Board.