34.The Authority is a company limited by guarantee formed under the Companies Act 1985 (“Companies Act”) as the Securities and Investment Board for the purpose of carrying out functions under the FS Act 1986.  It later assumed functions under the Banking Act and exercised functions under other financial regulatory legislation, including for example under the ICA 1982 on behalf of the Treasury.
Commentary on Sections Part I: the Regulator Section 1: The Financial Services Authority