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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 FCA works alongside the Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements for the financial sector. The FCA is responsible for the conduct of around 58,000 businesses which employ 2.2 million people and contribute around £65.6 billion in annual tax revenue to the economy in the United Kingdom ...
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.
Financial Conduct Authority (FCA) The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) [2] Financial Reporting Council, expected to be replaced by the Audit, Reporting and Governance Authority in 2023; Institute of Chartered Accountants in England and Wales; Office of the Regulator of Community Interest Companies (ORCIC)
It replaces the Financial Services Authority with two new regulators, namely the Financial Conduct Authority and the Prudential Regulation Authority, and creates the Financial Policy Committee of the Bank of England. This framework went into effect on 1 April 2013. [1] Its main effect is to amend the Financial Services and Markets Act 2000.
Section 1A outlines the regulatory objectives of the Financial Conduct Authority: (a) market confidence; (b) financial stability (c) public awareness; (d) the protection of consumers; and (e) the reduction of financial crime. Section 2A establishes the Prudential Regulation Authority; Part II Regulated And Prohibited Activities
That individual may, for example, have the title of chief executive or similar. The individual would have to be an FCA-approved person under SUP 10A.6.31 R. [9] In practice, the FCA expects that most non-directive friendly societies will be PRA-authorised persons. Where that is the case, the small friendly society function will not apply.
The SM&CR legislation was formed in response to the 2008 banking crisis and significant conduct failings such as the manipulation of LIBOR.UK Parliament passed the proposed legislation in December 2013, leading to the FCA and Prudential Regulation Authority applying the legislation to the banking sector from March 2016.