As suggested, I looked up the FAI on the web (GOOGLE is such a wonderful thing), here is what I found;

FAI is the world air sports federation, founded in 1905. It is a non-governmental and non-profit making international organisation with the basic aim of furthering aeronautical and astronautical activities worldwide.

Main page;
http://www.fai.org/

Aeromodelling section;
http://www.fai.org/aeromodelling/

Quoted from the FAI website
What FAI does
FAI activities include the establishment of rules for the control and certification of world aeronautical and astronautical records. FAI establishes regulations for air sporting events which are organised by member countries throughout the world. FAI also promotes skill, proficiency and safety in aeronautics. FAI confers medals, diplomas and other awards to those who have contributed to the achievement of these aims as well as for work done in the restoration of old aircraft.
In achieving these goals, FAI brings together people who take part in air sports from all over the world. They share the delight of gliding, the excitement of parachuting and ballooning, the fun of flying microlights and exercise their skill in aerobatics.
Within the framework of FAI, each air sport has an International Commission which is responsible formaking the rules for competitions and which generally oversees the activies of their particular air sport.
All FAI Contests, Championships and Record Setting activities are conducted under the direction of the FAI Air Sport Commissions. Other matters are dealt with by FAI Technical Commissions. These are listed later.
Regulations, rules or recommendations which have been accepted by the Commissions during their annual meetings are followed up by the delegates themselves at the national level and with Member-countries which need help developing their air sports.

http://www.fai.org/about/2

Translation; they are a group of people that promote international competition in a wide variety of Aeronautical endeavours and set the guidelines / rules for these competitions.

POINT of note:
It has nothing to do with the protection of frequencies within North America.
It only has relevance to those few persons that wish to compete INTERNATIONALLY.

Let the debate begin!