Understanding The Financial Conduct Authority
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| Author | : Ashley Kovas |
| Publisher | : Troubador Publishing Ltd |
| Total Pages | : 334 |
| Release | : 2015-07-28 |
| Genre | : Business & Economics |
| ISBN | : 178462392X |
The Financial Conduct Authority began its work in April 2013 with a post-crisis mandate to take pre-emptive action against firms. When problems occur, the FCA increasingly takes disciplinary action against individual senior managers as well as against the firm. Most of these cases are tragedies – if the individuals concerned understood the likely outcome they would have behaved differently. This book sets out the psychology of the FCA and covers the ‘hot spots’ that senior management and their compliance officers need to get right. The key to the FCA approach is ‘conduct risk’. This deliberately undefined term includes anything that might cause a problem to the FCA in the achievement of its regulatory mission. The FCA sees the world through the lens of risk; everything, including firms themselves, are assessed on how likely they are to cause the FCA to fail in its role of securing appropriate protection for consumers, enhancing the integrity of the UK financial system and promoting effective competition in the interests of consumers. Conduct risk is about behaviour and the FCA is keen to understand the drivers of human behaviour and how they can use them to bring about the outcomes they wish to see. Firms’ culture is also under the microscope, all the more so since the recent trading incidents where groups of traders colluded across firms to manipulate LIBOR and the foreign exchange markets. A chapter on Culture examines how firms can start work to prepare for the FCA’s increasing engagement on culture. The starting point of course is to understand what culture is.
| Author | : Andrew Haynes |
| Publisher | : Bloomsbury Professional |
| Total Pages | : 0 |
| Release | : 2006-12-01 |
| Genre | : Law |
| ISBN | : 9781845922498 |
Previously entitled "Risk-Based Compliance" this unique guide to the role of risk-based FSA regulation compliance in the financial services industry has been fully updated and comprehensively re-written. Focusing on the latest due diligence mechanisms, the guidance and information provided ensures financial services organisations can accurately and confidently comply with their legal responsibilities. This advice and information includes: operating a risk-based approach to regulation, FSA supervision of regulated firms, financial services and markets tribunals, the EU's Financial Services Action Plan, and the FSA Tribunal decisions.
| Author | : Great Britain. Treasury |
| Publisher | : The Stationery Office |
| Total Pages | : 138 |
| Release | : 2011-02-17 |
| Genre | : Business & Economics |
| ISBN | : 9780101801225 |
This document presents more detailed proposals for financial regulation following on from the consultation paper "A new approach to financial regulation: judgment, focus and stability" (July 2010, Cm. 7874, ISBN 9780101787420) and continuing policy development by the Treasury, Bank of England and Financial Services Authority. The Government's reforms focus on three key institutional changes. First, a new Financial Policy Committee (FPC) will be established in the Bank of England, with responsibility for 'macro-prudential' regulation, or regulation of stability and resilience of the financial system as a whole. Second, 'micro-prudential' (firm-specific) regulation of financial institutions that manage significant risks on their balance sheets will be carried out by an operationally independent subsidiary of the Bank of England, the Prudential Regulation Authority (PRA). Thirdly, responsibility for conduct of business regulation will be transferred to a new specialist regulator, the Financial Conduct Authority (FCA). Individual chapters cover: Bank of England and Financial Policy Committee; Prudential Regulation Authority; Financial Conduct Authority; regulatory process and co-ordination; compensation, dispute resolution and financial education; European and international issues; next steps; how to respond; impact assessment. The chapters contain significant detail on how the legislative framework will be constructed in order to deliver the Governments' priorities for the framework. The Government will consult on these proposals with a view to publishing a draft bill in spring 2011.
| Author | : Great Britain |
| Publisher | : |
| Total Pages | : 32 |
| Release | : 2018-09-11 |
| Genre | : |
| ISBN | : 9780111172421 |
Enabling power: European Union (Withdrawal) Act 2018, s. 8 (1), sch. 4, para. 1, sch. 7, para. 21. Issued: 11.09.2018. Sifted: -. Made: -. Laid: -. Coming into force: In accord. with reg. 1 (2) (3). Effect: 2000 c.8 modified & 1928 c.43; 1974 c.47; 1981 c.20; 1985 c.61; Housing Act 1985 c.68; 1986 c.53; 1988 c.28, c.52; 1992 c.5; 1993 c.8; 1997 c.27; 1998 c.11; 2000 c.29; 2001 c.24; 2003 c.43; 2007 c.29; 2008 c.31; 2010 c.38; 2011 c.25; 2012 c.7; 2016 c.7 & 50 SIs amended. Territorial extent & classification: E/W/S/NI. For approval by resolution of each House of Parliament
| Author | : Lawrence J. Gitman |
| Publisher | : |
| Total Pages | : 1455 |
| Release | : 2024-09-16 |
| Genre | : Business & Economics |
| ISBN | : |
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
| Author | : Theo Lynn |
| Publisher | : Springer |
| Total Pages | : 194 |
| Release | : 2018-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3030023303 |
This open access Pivot demonstrates how a variety of technologies act as innovation catalysts within the banking and financial services sector. Traditional banks and financial services are under increasing competition from global IT companies such as Google, Apple, Amazon and PayPal whilst facing pressure from investors to reduce costs, increase agility and improve customer retention. Technologies such as blockchain, cloud computing, mobile technologies, big data analytics and social media therefore have perhaps more potential in this industry and area of business than any other. This book defines a fintech ecosystem for the 21st century, providing a state-of-the art review of current literature, suggesting avenues for new research and offering perspectives from business, technology and industry.
| Author | : Simon Morris |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 0 |
| Release | : 2016 |
| Genre | : Law |
| ISBN | : 9780199688753 |
This book explains how to deal with legal, compliance, and enforcement issues faced by banks and other financial institutions and their legal advisers. It focuses on the practical application of the generally applicable regulations and rules under the Financial Services and Markets Act 2000 governing the financial services sector as it changed and developed during and after the financial crisis. The book considers the key changes made by the Financial Services Act 2012 and the Financial Services (Banking Reform) Act 2013 as well as policy developments brought about by the change in regime from the Financial Services Authority to the Prudential Regulation Authority and Financial Conduct Authority. Guidance is given on the application and enforcement of the rules taking all relevant sources into account including speeches and announcements by regulatory authorities, policy documents and pronouncements, practice developments, court cases, tribunal decisions, and enforcement proceedings. Providing real insight into the practical, legal, and policy issues affecting all dealing with the post-crisis regulatory environment, this book is essential for all advising on legal matters, compliance and enforcement in the financial sector.
| Author | : Susanne Chishti |
| Publisher | : John Wiley & Sons |
| Total Pages | : 261 |
| Release | : 2020-02-18 |
| Genre | : Business & Economics |
| ISBN | : 1119551919 |
The only globally-crowdsourced book on the future of payments (“PayTech”), offering comprehensive understanding of a rapidly evolving industry at the centre of global commerce The movement of money between individuals, organisations and governments is crucial to the world economy. The payments industry has undergone immense transformation – new regulations, technologies and consumer demands have prompted significant changes to the tools, products and use cases in payments, as well as presented lucrative opportunities for entrepreneurs and FinTech professionals. As payment technologies become faster and more efficient, companies and investors are increasingly favouring PayTech innovation due to better customer experience, increased revenues and manageable risks. The PAYTECH Book brings together a diverse collection of industry experts to provide entrepreneurs, financial services professionals and investors with the answers they need to capitalise on the highly profitable PayTech market. Written by leaders in the global FinTech and payment sectors, this informative volume explains key industry developments and presents valuable first-hand insights from prominent industry practitioners. Contributors include advisors and consultants to the payments and financial services industry, entrepreneurs and business owners utilising cutting-edge PayTech capabilities, academic researchers exploring the social-political-economic impact of PayTech and many others. Detailed chapters cover essential topics such as cybersecurity, regulation and compliance, wholesale payments and how payment systems currently work and how PayTech can improve them. This book: Defines PayTech and identifies its key players Discusses how PayTech can transform developed markets and accelerate growth in emerging economies Describes how PayTech fits into the larger FinTech ecosystem Explores the future of PayTech and its potential as an agent of social change and financial inclusion Provides diverse perspectives on investment in PayTech and what consolidation and expansion will look like The PAYTECH Book: The Payment Technology Handbook for Investors, Entrepreneurs and FinTech Visionaries is an indispensable source of information for FinTech investors and entrepreneurs, managers from payments companies and financial services firms and executives responsible for payments in government, corporations, public sector organisations, retailers and users of payments.
| Author | : Great Britain. Treasury |
| Publisher | : The Stationery Office |
| Total Pages | : 126 |
| Release | : 2012-01-27 |
| Genre | : Business & Economics |
| ISBN | : 9780101826822 |
This document accompanies the introduction into Parliament of the Financial Services Bill (HC Bill 278, session 2010-12, ISBN 9780215039545 and Explanatory notes Bill 278-EN, ISBN 9780215039132) and explains the Government's final proposals to reform the failed system of financial services regulation. These proposals follow on from extensive consultation, and a draft of the Bill was subject to pre-legislative scrutiny by a Joint Committee (report published as HL Paper 236/HC 1447, ISBN 9780108474064). This document details the main changes the Government is making to the Bill. Chapters cover: Bank of England and Financial Policy Committee; Prudential Regulation Authority; Financial Conduct Authority; regulatory processes and coordination; European and international regulation. Annexes include the Government's responses to the Joint Committee and to the Treasury Committee's inquiries into financial services regulation. The core proposals are: to establish a strong and expert macro-prudential authority, the Financial Policy Committee within the Bank of England to monitor and respond to systemic risks; to transfer responsibility for micro-prudential management of firms that manage complex risks on their balance sheets to a focused new regulator, the Prudential Regulatory Authority; and to provide for a focused new conduct of business regulator, the Financial Conduct Authority, to ensure that business across financial services and markets is conducted in a way that advances the interests of all users and participants. In any future crisis it will be clear that the Chancellor of the Exchequer is in charge. Regulation of consumer credit will be brought within the remit of the Financial Conduct Authority.
| Author | : James Brilliant |
| Publisher | : |
| Total Pages | : 274 |
| Release | : 2022-04-12 |
| Genre | : |
| ISBN | : 9781914608384 |
More than 56,000 financial businesses - from stockbrokers and independent financial advisors to credit card companies and hedge fund managers - are authorised and regulated by the Financial Conduct Authority. These firms vary widely in the activities they carry on and the types of clients they serve. What they all have in common is an obligation to comply with an extensive and sometimes complex financial regulatory framework. This user-friendly book is for lawyers, compliance professionals and senior managers tasked with advising on or overseeing regulatory compliance for FCA-authorised firms. It offers succinct synopses of bedrock topics within FCA compliance, covering supervisory processes, a firm's systems and controls, and conduct of business. New in the second edition: Senior Managers and Certification Regime MIFIDPRU prudential framework Covid-19 regulatory intervention Onshored versions of EU-derived laws and regulations ABOUT THE AUTHOR James Brilliant is a financial services regulatory lawyer and partner in an international asset management firm. He has held senior legal and compliance positions in the financial sector since 2012. Before that, he was in private practice at Fred Philpott's chambers in Gough Square and then law firms Shearman & Sterling and Kirkland & Ellis.
