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Website. www .fca .org .uk. The Financial Conduct Authority ( FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. [ 2] The FCA regulates financial firms providing services to consumers and maintains the integrity ...
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 .
The Banking Code was a voluntary code of practice agreed by banks in certain countries. The code typically described how banks dealt with accepting deposits and withdrawals and with customer disputes on transactions. Banking codes have in most countries been replaced by government imposed financial regulation governing banking practices.
UK banking has two main parts. [5] First, the Bank of England administers monetary policy, influencing interest rates, inflation and employment, and it regulates the banking market with HM Treasury, the Prudential Regulation Authority and Financial Conduct Authority. Second, there are private banks, and some non-shareholder banks (co-operatives ...
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.
The Banking Standards Board (BSB) was a body established in April 2015 in the United Kingdom, to promote good practice among banks and building societies.The original idea for the body came from the work of the Parliamentary Commission on Banking Standards and the subsequent Lambert Review, which called for a new type of organisation, different from traditional regulators, that would look at ...
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.
Chartered Banker Institute. The Chartered Banker Institute was established in 1875 and is the oldest professional banking institute in the world [1] and the only remaining banking institute in the UK. It aims to help rebuild public confidence in banks and bankers by developing and embedding high ethical, professional and technical standards. [2]