Transparency

We set out to be as open and accountable as possible, so we can be scrutinised by consumers, firms and Parliament.

To make sure we’re transparent about how we work, we publish information about how we operate, how we regulate firms, and specific information about our Board and Executive Committee.

We also publish information about the firms and individuals we regulate. 

Disclosure of interests

To be an effective regulator, it’s essential that we’re impartial and independent. That means being objective in our decision-making and never allowing our personal interests to influence those decisions.

Our employees and Non-Executive Directors must identify any potential conflicts of interest they have and make certain declarations in respect of themselves and their close family members.

If members of the Board and the Executive Committee declare information about positions and financial interests they hold, we publish this in: 

Disclosures under the Freedom of Information Act 

The Freedom of Information Act 2000 (FOIA) gives the public a right of access to recorded information held by public authorities.  

Anyone can make a request for information we hold, including that of our predecessor bodies. However, FOIA also sets out exemptions from that right. 

The Financial Services and Markets Act 2000 (FSMA) also imposes restrictions on disclosing information we’ve received while carrying out our duties as a regulator.  

Find out more about making a freedom of information request

Board effectiveness reviews 

The Board undertook its fourth independent effectiveness review in 2021.

These reviews involve examining the Board structure, management, processes, independence and behaviour, among other factors.

You can read the Board’s previous independent reviews from 2014, 2015 and 2017.  

Confidential information

While we set out to be open and transparent, we’re legally required to protect confidential information that relates to both individuals and firms.

Confidential information is information we receive in the course of our work that relates to the business or affairs of any person.

Information is not confidential if: 

  • it’s already lawfully publicly available 
  • it’s written so that the reader is unable to gather information from it about any particular person or firm, for example, collective data on a group of firms 

There are some circumstances when we can disclose confidential information to others, but otherwise it’s a criminal offence. In many circumstances we can’t disclose information, even if it might be helpful to others.

When we do disclose confidential information, it continues to be confidential in the hands of the recipient. Any recipient who discloses the confidential information, unless permitted to do so by law, is committing a criminal offence. We can’t give permission to others to disclose information if the law doesn’t permit it. 

Page updates

19/07/2022: Information added Information on FOI requests, minor updates to Disclosures section, and changes to links in the right hand navigation.
22/11/2021: Publication added Board Effectiveness Review 2021 published