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The commission made its recommendations to the UK government on 12 September 2011. Its headline recommendation was that British banks should 'ring-fence' their retail banking divisions from their investment banking arms to safeguard against riskier banking activities, [2] but it also made a number of other recommendations on bank capital requirements and competition in retail banking. [3]
The Financial Services and Markets Act 2000 (c. 8) is an act of the Parliament of the United Kingdom that created the Financial Services Authority (FSA) as a regulator for insurance, investment business and banking, and the Financial Ombudsman Service to resolve disputes as a free alternative to the courts.
Banking Regulation and Supervision Agency of Turkey (BRSA) ; Capital Markets Board (SPK) ; Insurance and Private Pension Regulation and Supervision Agency (IPRSA) Turks and Caicos: Turks and Caicos Islands Financial Services Commission (TCIFSC) Uganda: Bank of Uganda ; Capital Markets Authority (CMA) ; Insurance Regulatory Authority of Uganda ...
The Prudential Regulation Authority (PRA) is a United Kingdom financial services regulatory body, formed as one of the successors to the Financial Services Authority (FSA). [1] [2] [3] The authority is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. It ...
It focuses on the regulation of conduct by both retail and wholesale financial services firms. [4] Like its predecessor the FSA, the FCA is structured as a company limited by guarantee. [5]: 140 The FCA works alongside the Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements for the financial sector ...
Although UK banks, except the Bank of England, are shareholder or mutually owned, many countries operate public retail banks (for consumers) and public investment banks (for business). The UK used to run Girobank for consumers, and there have been many proposals for a "British Investment Bank" (like the Nordic Investment Bank or KfW in Germany ...
Phone-paid Services Authority – regulator for phone-paid services in the UK, part of Ofcom, replaces ICSTIS, PhonepayPlus; Office for Nuclear Regulation (ONR) Ofgem – the Office of the Gas and Electricity Markets, regulation of the electricity and gas industries in Great Britain
Main entrance – 25 North Colonnade (Canary Wharf, London) – FSA building The Securities and Investments Board Ltd ("SIB") was incorporated on 7 June 1985 at the instigation of the UK Chancellor of the Exchequer, who was the sole member of the company and who delegated certain statutory regulatory powers to it under the then Financial Services Act 1986.