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.
Financial Conduct Authority (FCA)
The parameters of the Financial Conduct Authority’s Treating Customers Fairly (TCF) agenda are well embedded within our organisational culture. Our adherence is monitored and managed through the NS&I Risk Management Framework and reported through the governance committee structure, feeding into the Executive Committee and Board.
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.
Procurement
We follow the rules set out by Public Contracts Regulations 2015, which apply to all government departments.
Acts & Legislation
NS&I follows Public Contracts Regulations 2015 rules which apply to public authorities including, among others, government departments, local authorities and NHS Authorities and Trusts.