Author: Ashley Kovas
Publisher: Troubador Publishing Ltd
ISBN: 178462392X
Category : Business & Economics
Languages : en
Pages : 334
Book Description
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.
Understanding the Financial Conduct Authority
Author: Ashley Kovas
Publisher: Troubador Publishing Ltd
ISBN: 178462392X
Category : Business & Economics
Languages : en
Pages : 334
Book Description
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.
Publisher: Troubador Publishing Ltd
ISBN: 178462392X
Category : Business & Economics
Languages : en
Pages : 334
Book Description
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.
Introduction to the Financial Services Authority
Author: Financial Services Authority (Great Britain)
Publisher:
ISBN:
Category :
Languages : en
Pages : 2
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 2
Book Description
The Financial Services Authority
Author: Financial Services Authority
Publisher:
ISBN:
Category : Financial institutions
Languages : en
Pages : 0
Book Description
Publisher:
ISBN:
Category : Financial institutions
Languages : en
Pages : 0
Book Description
Legal Aspects of Combating Corruption: The Case of Zambia
Author:
Publisher: Cambria Press
ISBN: 1621968855
Category :
Languages : en
Pages : 330
Book Description
Publisher: Cambria Press
ISBN: 1621968855
Category :
Languages : en
Pages : 330
Book Description
A new approach to financial regulation
Author: Great Britain. Treasury
Publisher: The Stationery Office
ISBN: 9780101787420
Category : Business & Economics
Languages : en
Pages : 76
Book Description
This document outlines the Government's programme of reform to renew the UK's system of financial regulation. It believes that weaknesses were inherent in the tripartite approach whereby three authorities - the Bank of England, the Financial Services Authority and the Treasury - were collectively responsible for financial stability. The Government will create a new Financial Policy Committee (FPC) in the Bank of England with primary statutory duty to maintain financial stability. The FPC will be given control of macro-prudential tools to ensure that systemic risks to financial stability are dealt with. This macro-prudential regulation must be co-ordinated with the prudential regulation of individual firms. Operational responsibility for prudential regulation will transfer from the FSA to a new subsidiary of the Bank of England, the Prudential Regulation Authority. The third development is the creation of a dedicated Consumer Protection and Markets Authority (CPMA) with a primary statutory responsibility to promote confidence in financial services and markets. Protection of consumers will be delivered though a strong consumer division within CPMA. The document also covers: the issue of market regulation; co-ordination of the regulatory bodies in a potential crisis; the next steps, including public consultation, legislative passage and operational implementation. The Government will, after considering responses, produce more detailed proposals - including draft legislation - for further consultation in early 2011, with a view to having legislation on the statute book within two years.
Publisher: The Stationery Office
ISBN: 9780101787420
Category : Business & Economics
Languages : en
Pages : 76
Book Description
This document outlines the Government's programme of reform to renew the UK's system of financial regulation. It believes that weaknesses were inherent in the tripartite approach whereby three authorities - the Bank of England, the Financial Services Authority and the Treasury - were collectively responsible for financial stability. The Government will create a new Financial Policy Committee (FPC) in the Bank of England with primary statutory duty to maintain financial stability. The FPC will be given control of macro-prudential tools to ensure that systemic risks to financial stability are dealt with. This macro-prudential regulation must be co-ordinated with the prudential regulation of individual firms. Operational responsibility for prudential regulation will transfer from the FSA to a new subsidiary of the Bank of England, the Prudential Regulation Authority. The third development is the creation of a dedicated Consumer Protection and Markets Authority (CPMA) with a primary statutory responsibility to promote confidence in financial services and markets. Protection of consumers will be delivered though a strong consumer division within CPMA. The document also covers: the issue of market regulation; co-ordination of the regulatory bodies in a potential crisis; the next steps, including public consultation, legislative passage and operational implementation. The Government will, after considering responses, produce more detailed proposals - including draft legislation - for further consultation in early 2011, with a view to having legislation on the statute book within two years.
The Financial Services Authority
Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102945027
Category : Business & Economics
Languages : en
Pages : 104
Book Description
The National Audit Office was invited by HM Treasury to review the economy, efficiency and effectiveness with which the FSA has used its resources. The main conclusions cover five main areas: 1) performance management, where the FSA is developing useful tools to manage its performance but needs to enhance its grip on cost information and streamline the Outcomes Performance Report; 2) working with other UK regulators - the FSA has good relationships but should focus on working collaboratively with the Office of Fair Trading; 3) international influence and representation, where it is generally effective but should sharpen its communication to stakeholders; 4) financial crime - combating financial crime has received less attention than other areas of FSA's responsibilities but it has recently restructured to enhance its efforts in this area; 5) financial capability of consumers - the FSA is a world leader in this but it should focus on the costs of low financial capability and develop a medium term strategy.
Publisher: The Stationery Office
ISBN: 9780102945027
Category : Business & Economics
Languages : en
Pages : 104
Book Description
The National Audit Office was invited by HM Treasury to review the economy, efficiency and effectiveness with which the FSA has used its resources. The main conclusions cover five main areas: 1) performance management, where the FSA is developing useful tools to manage its performance but needs to enhance its grip on cost information and streamline the Outcomes Performance Report; 2) working with other UK regulators - the FSA has good relationships but should focus on working collaboratively with the Office of Fair Trading; 3) international influence and representation, where it is generally effective but should sharpen its communication to stakeholders; 4) financial crime - combating financial crime has received less attention than other areas of FSA's responsibilities but it has recently restructured to enhance its efforts in this area; 5) financial capability of consumers - the FSA is a world leader in this but it should focus on the costs of low financial capability and develop a medium term strategy.
Financial Services Regulation in Practice
Author: Simon Morris
Publisher: Oxford University Press, USA
ISBN: 9780199688753
Category : Law
Languages : en
Pages : 0
Book Description
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.
Publisher: Oxford University Press, USA
ISBN: 9780199688753
Category : Law
Languages : en
Pages : 0
Book Description
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.
Financial Services Authority
Author: Financial Services Authority (Great Britain)
Publisher:
ISBN:
Category : Financial services industry
Languages : en
Pages : 68
Book Description
Publisher:
ISBN:
Category : Financial services industry
Languages : en
Pages : 68
Book Description
Financial Services Authority Regulation and Risk-Based Compliance
Author: Andrew Haynes
Publisher: Bloomsbury Professional
ISBN: 9781845922498
Category : Law
Languages : en
Pages : 0
Book Description
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.
Publisher: Bloomsbury Professional
ISBN: 9781845922498
Category : Law
Languages : en
Pages : 0
Book Description
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.
Banking Law: New York Banking Law
Author: New York (State)
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 578
Book Description
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 578
Book Description