The FSA has hired a consumer adviser in a bid to strengthen its understanding of consumer issues.
It says Julian Edwards, who has been appointed to the new role of consumer senior adviser and who previously worked for Which?, will help it "proactively identify and address issues that have the potential to harm consumers".
"Through intensive and intrusive regulation we are focusing our skills and insight into not just taking action when we find failures, but proactively identifying and addressing issues that have the potential to harm consumers," FSA chief executive Hector Sants says.
"This is a step change in approach and Julian will have an invaluable role in ensuring that we have the ability to achieve this."
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Failure to engage