A flame retardant thermoplastic composition having excellent physical properties that includes 20 to 90 wt. % of a polycarbonate resin; from 1 to 35 wt. % of an impact modifier; from 0.5 to 30 wt. % of a polysiloxane-polycarbonate copolymer including from 8 to 30 wt. % polydimethylsiloxane units or the equivalent molar amount of other diorganosiloxane units; from 0.5 to 20 wt. % of a phosphorus-containing flame retardant, and from 3 to 30 wt. % of metal fiber, each based on the total combined weight of the thermoplastic composition, exclusive of any filler. In one embodiment, a molded sample of the thermoplastic composition having a thickness of 3.0 mm (±10%) has an EMI shielding of at least 20 dB. In addition, a molded sample of the thermoplastic composition is capable of achieving UL94 V0 or V1 rating at a thickness of 1.5 mm (±10%). The compositions are useful in forming flame retardant articles having EMI shielding characteristics.