The FSA says it established the new role to help deliver better outcomes for consumers through “intensive supervision and rigorous risk assessment”.
The FSA says it also wants to strengthen its understanding of consumer issues.
Edwards, who took up the role on January 1, has more than 30 years experience working for various organisations including Which? and Consumer International.
FSA’s chief executive Hector Sants says: “I am delighted to announce Julian’s appointment today as a senior advisor to the FSA. He has considerable experience to bring to bear on the key issues that we face in protecting 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. This is a step change in approach and Julian will have an invaluable role in ensuring that we have the ability to achieve this.”