A2: Financial Services Act 2012

Mark Varela
Mind Map by , created over 5 years ago

CII - Level 4 Diploma R01 - Financial services, regulation, and ethics (C4: The Regulation of Financial Services) Mind Map on A2: Financial Services Act 2012, created by Mark Varela on 03/31/2014.

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Mark Varela
Created by Mark Varela over 5 years ago
H: Types of Trust
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A: UK's Financial Services Regulatory Landscape
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B: FCA Objectives
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GCSE PHYSICS: Energy Transfer
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CST Module 6a
Jane Foltz
D: Other Regulators
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G: Laws of succession
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C3: Enforcement in civil & criminal courts
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D1A-D2: Compliance monitoring
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E: Additional Oversight
Mark Varela
A2: Financial Services Act 2012
1 Financial Conduct Authority

Annotations:

  • - 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
1.1 Financial Ombudsman Service
1.2 Money Advice Service
1.3 Financial Services Compensation Scheme
2 Bank of England

Annotations:

  • - 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
2.1 Financial Policy Committee

Annotations:

  • - 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
2.2 Prudential Regulatory Authority

Annotations:

  • - 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
3 HM Treasury

Annotations:

  • - 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
4 Standing Committee on Financial Stability

Annotations:

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

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