A major act of the new Labour government was to announce the setting up of a new financial services regulator to be known as the Financial Services Authority, the initial outline is currently being drafted prior to the extensive consultation process which will be required. The consumer will be the most obvious beneficiary being in a position to raise concerns/complaints to a central point.

The new body will absorb the Personal Investment Authority, as well as many other regulatory bodies shown in the 'Chancellor of the Exchequer' chart.