Timeline of Uk Regulatory Events Essay

Prior to the financial crisis, the overall responsibility for financial oversight was divided among several different agencies. These agencies and their “varying rules and standards led to certain entities not being regulated at all, with others subject to less oversight than their peer

The government regulation of the financial industry by the Dodd-Frank Act was the most compelling topic of this class. A financial regulatory process was created which limits risk through the enforcement of transparency and accountability. The main objective of the Dodd-Frank Act was to provide regulation to banks that was more stringent. The FSOC was created as a result of the Dodd-Frank Act. The two main objectives of the FSCO was to stop the occurrence of another recession and to resolve persistent issues. The elimination of bailouts funded by taxpayers was another important element of this act. The CFPB also known as the Consumer Financial Protection Bureau was created as a result of the act. The consolidation of consumer protection responsibilities

Government departments are instrumental to a flourishing and secure economy. They are in place to serve their constituents and ought to keep that in mind. The Federal Deposit Insurance Corporation (FDIC) fits this well and is in place to ensure that bank users are protected in instances of economic downturn and that their money is insured. In this way, regulation is extremely necessary to ensure a stable economy in instances of financial instability. To completely understand the FDIC, it is important to understand why and how it was created, its history, major responsibilities and who the leaders are.

The aim of this report is to investigate the Douglas Harvey Barber v Guardian Royal Exchange case. The main findings of this report is to see what effect Douglas Harvey Barber had on the financial services industry before and after his case.

The Dodd-Frank Act put a considerable burden on financial regulators whom have to work out the details in order to implement its vision. It includes a variety of points relating to the prevention of a future crisis (Kim & Muldoon 2015). Some of these major points include: (1) The creation of a new Financial Stability Oversight Council, comprising existing regulators, to be responsible for overseeing any financial institution or set of market circumstances determined to be likely to result in risk to the overall economy, (2) A reallocation of banking oversight responsibility among the Federal Reserve System, the Comptroller of the Currency, and the FDIC, requiring the Federal Reserve Board to supervise nonbank financial companies “that may

Firstly, the Dodd–Frank Act pushes forward the reformation of America's financial regulatory system. Several new regulatory authorities are set up to enhance the government supervision and administration of the industry. The Financial Stability Oversight Council is established to identify material risks to financial stability, with the support from Office of Financial Research. Moreover, Fed is entitled to exercise additional superintendence beyond banks.

The reality of systemic risk made the task of regulating the financial system increasingly complicated, as the crises aren’t contained in one country or market. The extreme inter-dependence between the different agents is the main reason why we need regulation today, as some misconducts can cause a domino effect, affecting markets globally. The structure of the banking system in itself explains this process. In the finance industry, banks borrow money from other banks. If one bank fails, the one who lent the funds in the first place might also follow the same path, creating panic in the markets. The government’s first prerogative is to protect its citizens from these

The reasons why the regulatory framework is exists is to describe the Financial Services Commission of Ontario (FSCO), how the FSCO fulfills its mandate by achieving regulatory outcomes, FSCO’s core regulatory activities and the principles that FSCO follows when conducting regulatory activities. In the financial services that FSCO regulates, expectations are one of the things that play a very important role. All the customers expected to be treated nicely, fairly and their money from the future pension must be secured. They expect more financial products and more services that should meet the public’s needs from FSCO. The regulatory framework will do its job by summarize the expectations of FSCO from businesses or some individuals that work

The 2008 financial crisis should not be the last one readers will experience, but this paper would like to present a picture of how it unfolded and where went wrong, so that hopefully we can learn from it. This paper will address some post-crisis regulations and why regulators responded this way. It concludes that the key is to carry out reforms addressing the moral hazard issue deeply in our current financial system.

Financial legislation has always played a crucial role in the safety and soundness of the banking industry. Since the 2008 financial crisis, mostly caused by loose lending practices and lack of credit standards, bank regulation pressures have increased considerably. The increased regulatory burden is playing a toll on community financial institutions who cannot keep up with the overhead cost it takes to meet the new regulations. It is frustrating community bankers since most new regulation was written for the “too big to fail” banks as they were the majority driver of the subpar lending practices.

The regulatory reform process is currently moving from policymaking to the implementation phase. The implications of regulatory reform for banks has never been greater, and the ability to navigate the new environment will require strong processes that integrate regulatory compliance and changes to the business model. Planning has never been more important as reaction to each regulation could be very costly.

The above study is quite relative to the question at hand. It looks intensely at the Financial Services Authority (FSA) in the UK as they look to move regulation from a rules based system to a more principles based one. The study also investigates the factors they believe necessary to make the implementation of this more principle based system

Regulation is a topic that has been debated for many years and will continue to be debated for years to come. In the business and finance sector, there are many regulators including but not limited to the Australian Securities and Investment Commission (ASIC), Financial Reporting Council (FRC), Australian Prudential Regulation Authority (APRA) and the Australian Accounting Standards Board (AASB). While these are only a few regulatory bodies in the industry, they all have their own set of regulations to enforce. ASIC, for example, regulate the Corporations Act 2001 along with the Australian Accounting Standards. While ASIC ensure that organisations adhere to the regulations laid out before them, the AASB create and develop those

Financial regulation is necessary and without an efficient set of regulations a country could see rises in unemployment, interest rates, and the deterioration of financial intermediaries. With the globalization of the financial industry, it becomes more and more common for businesses to seek financing outside of their county 's boarders. These innovations in the financial industry stress why it is so important for regulations to be created and changed to reduce risk and asymmetric information in financial systems.

At the same time, the regulators should be as transparent as possible and fully accountable. The accountability and transparency of the regulator will increase the credibility of the regulator and in-turn benefit the regulated entity. Types of Financial Regulation Financial regulation in a country can be done either by a single body called a single regulator or multiple bodies co-existing and working together or in a hierarchy of entities known as multiple regulators. A regulator whether single or multiple does not determine the economic standing of a country or its financial strength. Many developed countries of the world follow either the system of single regulation or multiple regulations. Often in times of economic crisis or financial boom in the country’s economy the government of the nation will review its regulatory system and choose to expand or close down some of its regulatory bodies.