He announced his plan during Monday's public launch of the FSB, when the board issued research showing 75 per cent of people did not know how to complain about charity fundraising. It did not comment on Lepper's intention.
The MP for Brighton Pavilion said: "I am concerned the FSB is not independent enough. It is working with public funds, so I want to keep a check on how efficiently it does its job."
The FSB is chaired by Colin Lloyd, former chief executive of the Direct Marketing Association, and includes fundraising professionals, representatives from the Scottish and Welsh Councils for Voluntary Action, a lawyer and five lay members.
Action Planning, a consultancy, said the scheme would maintain public confidence, but donor information website Intelligent Giving said it had "piffling" sanctions.