How we’re regulated
The way our products are structured and managed is governed by legislation specific to NS&I. Decisions that affect our products must have ministerial consent.
In addition, HM Treasury expects us to fully comply with the appropriate Financial Conduct Authority (FCA) requirements.
We work to ensure consistent compliance with all relevant financial regulation, and hold regular discussions with the FCA. Our compliance is continually tracked, with updates provided to our Audit Committee.
The Financial Conduct Authority (FCA)
The FCA’s Treating Customers Fairly (TCF) agenda is embedded into our culture. TCF compliance is managed and monitored through our Risk Management Framework, and reported to the Executive Committee and Board through our governance committee structure.
Financial Ombudsman Service (FOS)
NS&I is covered by the Financial Ombudsman Service (FOS). This ensures that all customer disputes are dealt with equally and fairly, giving customers access to the same dispute resolution process as other financial service providers.
We follow the rules set out by the Public Contracts Regulations 2015, which apply to all government departments.
Acts and Legislation
As an Executive Agency of the Chancellor of the Exchequer, NS&I adheres to specifically-created Acts and Legislation.