The Financial Services Authority is an independent non-governmental body in the UK which exercises statutory powers under the Financial Services and Markets Act 2000 (and certain other legislation). The FSA is the competent authority regulating the securities industry in the UK, including banks, brokers, investment houses, and financial advisers. It was created by the merger of functions previously performed by the Securities Investment Board, or SIB, Investment Management Regulatory Organisation, or IMRO, the Bank of England, and other agencies. See 'Competent Authority'.