A2: Financial Services Act 2012

Beschreibung

CII - Level 4 Diploma R01 - Financial services, regulation, and ethics (C4: The Regulation of Financial Services) Mindmap am A2: Financial Services Act 2012, erstellt von Mark Varela am 31/03/2014.
Mark Varela
Mindmap von Mark Varela, aktualisiert more than 1 year ago
Mark Varela
Erstellt von Mark Varela vor mehr als 10 Jahre
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Zusammenfassung der Ressource

A2: Financial Services Act 2012
  1. Financial Conduct Authority

    Anmerkungen:

    • - independent regulator - responsible for conduct of business and market issues for all firms and prudential regulation of small firms - power to ban products where necessary
    1. Financial Ombudsman Service
      1. Money Advice Service
        1. Financial Services Compensation Scheme
        2. Bank of England

          Anmerkungen:

          • - UK's central bank - promote & maintain stable & efficient monetary & financial framework - responsible for settling of payments, functioning of UK market, & providing routine & emergency liquidity to banking system - Core Purpose 1 is monetary stability   - stable prices (inflation target)   - confidence in the currency - Core Purpose 2 is financial stability   - detecting & reducing threats to financial system
          1. Financial Policy Committee

            Anmerkungen:

            • - within the Bank of England - responsible for watching emerging risks to the financial system as a whole - strategic direction for the entire regulatory regime - responsible for Financial Stability Report
            1. Prudential Regulatory Authority

              Anmerkungen:

              • - within the Bank of England - responsible for stability and resolvability of systemically important financial institutions - will not seek to prevent firm failures but seeks too ensure firms can fail without bringing down the entire financial system
            2. HM Treasury

              Anmerkungen:

              • - put into effect UK Govt's financial & economic policy - aim to raise rate of suainable growth & create economic and employment opportunities for all - work on financial contingencies
              1. Standing Committee on Financial Stability

                Anmerkungen:

                • - comprised of senior representatives from Bank of England, HM Treasury, & FCA
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