In its short life, the Financial Services Authority adopted a light-touch approach and oversaw a catastrophic banking meltdown. See http://www.guardian.co.uk/business/2013/mar/24/farewell-fsa-bleak-legacy-light-touch-regulator.
The FSA acted as the UK Listing Authority, with oversight responsibility for companies wishing to list in London. A year ago, London Mining Network published a report showing that oversight of London-listed mining companies needed to be stricter. See https://londonminingnetwork.org/docs/lmn-the-case-for-stricter-oversight.pdf.