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The Financial Conduct Authority Handbook is a set of rules required to be followed by banks, insurers, investment businesses and other financial services in the United Kingdom under the Financial Services and Markets Act 2000. It is administered by the Financial Conduct Authority in London.
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
There are a number of sectors in which banks may be involved. The general bank license allows a bank to engage in all banking activities, such as retail banking, merchant acquiring, cash management, asset management and trading. An applicant can apply for a limited banking license, such as an offshore banking license. [2]
In June 2013, the Financial Conduct Authority was criticised by the Parliamentary Commission on Banking Standards in their report "Changing Banking for Good", which stated: The interest rate swap scandal has cost small businesses dear. Many had no concept of the instrument they were being pressured to buy.
It received the Financial Conduct Authority’s permission to provide financial products and services in February 2016. [10] Banking services are provided by PrePay Solutions, which is regulated by the Financial Conduct Authority. [7] [11] Tide became one of the first digital-only finance platforms in the UK to provide accounts for businesses. [12]
The Official List (or UKLA Official List) is the list of securities maintained by the British Financial Conduct Authority (acting in its capacity as the UK Listing Authority). The list indicates the listing category of the listed securities and if they have a premium listing or standard listing.
These are specified, under section 59 of the Financial Services and Markets Act [1] which still stands as the reference after the FSA split into the FCA and the PRA. [2] The FCA is solely responsible for all applications for approval for FCA Designated Controlled Functions for all FCA solo regulated firms. [3]
The Certificate in Mortgage Advice and Practice (CeMAP) is a UK-specific qualification for mortgage advisers offered by The London Institute of Banking & Finance at QCF Level 3. It meets the standards required by the Financial Conduct Authority to practice as a 'licensed' adviser in the UK.