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Proposal For The Regulatory Reform Financial Services And Markets Act 2000 Order 2007
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Book Synopsis Proposal for the Regulatory Reform (Financial Services and Markets Act 2000) Order 2007 by : Great Britain: Parliament: House of Commons: Regulatory Reform Committee
Download or read book Proposal for the Regulatory Reform (Financial Services and Markets Act 2000) Order 2007 written by Great Britain: Parliament: House of Commons: Regulatory Reform Committee and published by The Stationery Office. This book was released on 2007-03-23 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the report of an examination of a proposed Order, which would reform the regulation of wholesale and retail financial markets. The unanimous conclusion of the Committee is that a draft Order in the form of the proposal should be laid before the House.
Book Synopsis A new approach to financial regulation by : Great Britain. Treasury
Download or read book A new approach to financial regulation written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2010-07-26 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Proposal for the Regulatory Reform (Deer) (England and Wales) Order 2007 by : Great Britain: Parliament: House of Commons: Regulatory Reform Committee
Download or read book Proposal for the Regulatory Reform (Deer) (England and Wales) Order 2007 written by Great Britain: Parliament: House of Commons: Regulatory Reform Committee and published by The Stationery Office. This book was released on 2007-04-02 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: About a proposed Order to amend legislation, the Deer Act 1991, making it easier for individuals to take action to control deer population in England and Wales. It would also introduce various new provisions to that Act regarding deer welfare.
Book Synopsis Banking reform by : Great Britain: H.M. Treasury
Download or read book Banking reform written by Great Britain: H.M. Treasury and published by Stationery Office. This book was released on 2013-07-17 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Services (Banking Reform) Bill aims to establish a more resilient, stable and competitive banking sector; to reduce the severity of a future financial crisis; and to protect taxpayers in the event of such a crisis. It is primarily an enabling Bill, which provides HM Treasury with the requisite powers to implement the policy underlying the Bill through secondary legislation. Three illustrative draft instruments were published in March 2013 in order to aid Parliamentary scrutiny of the Bill, and the Government has continued to develop those instruments. This paper invites comments on a further four statutory instruments: Ring-fenced Bodies and Core Activities Order; Excluded Activities and Prohibitions Order; Banking reform (Loss Absorbency Requirement) Order; and the Fees and Prescribed International Organisations Regulations. Further secondary legislation is planned for pensions and building societies.
Book Synopsis A new approach to financial regulation by : Great Britain. Treasury
Download or read book A new approach to financial regulation written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2011-02-17 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis OECD Reviews of Regulatory Reform Risk and Regulatory Policy Improving the Governance of Risk by : OECD
Download or read book OECD Reviews of Regulatory Reform Risk and Regulatory Policy Improving the Governance of Risk written by OECD and published by OECD Publishing. This book was released on 2010-04-09 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.
Book Synopsis A new approach to financial regulation by : Great Britain. Treasury
Download or read book A new approach to financial regulation written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2012-01-27 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Insurance Distribution Directive by : Pierpaolo Marano
Download or read book Insurance Distribution Directive written by Pierpaolo Marano and published by Springer Nature. This book was released on 2021 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access volume of the AIDA Europe Research Series on Insurance Law and Regulation offers the first comprehensive legal and regulatory analysis of the Insurance Distribution Directive (IDD). The IDD came into force on 1 October 2018 and regulates the distribution of insurance products in the EU. The book examines the main changes accompanying the IDD and analyses its impact on insurance distributors, i.e., insurance intermediaries and insurance undertakings, as well as the market. Drawing on interrelations between the rules of the Directive and other fields that are relevant to the distribution of insurance products, it explores various topics related to the interpretation of the IDD - e.g. the harmonization achieved under it; its role as a benchmark for national legislators; and its interplay with other regulations and sciences - while also providing an empirical analysis of the standardised pre-contractual information document. Accordingly, the book offers a wealth of valuable insights for academics, regulators, practitioners and students who are interested in issues concerning insurance distribution.--
Book Synopsis Domestic Regulation and Service Trade Liberalization by : Pierre Sauve
Download or read book Domestic Regulation and Service Trade Liberalization written by Pierre Sauve and published by World Bank Publications. This book was released on 2003-08-29 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade in services, far more than trade in goods, is affected by a variety of domestic regulations, ranging from qualification and licensing requirements in professional services to pro-competitive regulation in telecommunications services. Experience shows that the quality of regulation strongly influences the consequences of trade liberalization. WTO members have agreed that a central task in the ongoing services negotiations will be to develop a set of rules to ensure that domestic regulations support rather than impede trade liberalization. Since these rules are bound to have a profound impact on the evolution of policy, particularly in developing countries, it is important that they be conducive to economically rational policy-making. This book addresses two central questions: What impact can international trade rules on services have on the exercise of domestic regulatory sovereignty? And how can services negotiations be harnessed to promote and consolidate domestic policy reform across highly diverse sectors? The book, with contributions from several of the world's leading experts in the field, explores a range of rule-making challenges arising at this policy interface, in areas such as transparency, standards and the adoption of a necessity test for services trade. Contributions also provide an in-depth look at these issues in the key areas of accountancy, energy, finance, health, telecommunications and transportation services.
Book Synopsis The Financial Services Bill by : Great Britain. Treasury
Download or read book The Financial Services Bill written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2012-09-18 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Policy Committee (FPC) is to be established under the Financial Services Bill, currently going through Parliament. The Committee will be charged with identifying, monitoring and addressing risks to the financial system as a whole, as well as supporting the Government's economic objectives. An interim Financial Policy Committee was set up in advance and was asked to evaluate and recommend potential macro-prudential tools that the statutory FPC could be given powers to direct the regulators to implement. Those recommendations were submitted in March 2012. This document describes macro-prudential regulation and the role of the FPC, and sets out the Government's proposals for the FPC's initial toolkit. The powers are designed to allow the FPC to mitigate risks to systemic stability. The two primary powers will be powers of recommendation and powers of direction. A draft of the statutory instrument that will establish the toolkit is included, along with a draft of the impact assessment that will accompany it.
Book Synopsis Legal Aspects of Combating Corruption: The Case of Zambia by :
Download or read book Legal Aspects of Combating Corruption: The Case of Zambia written by and published by Cambria Press. This book was released on with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Wheatley Review of LIBOR by : Great Britain. Treasury
Download or read book The Wheatley Review of LIBOR written by Great Britain. Treasury and published by . This book was released on 2012 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Regulatory Aftermath of the Global Financial Crisis by : Eilís Ferran
Download or read book The Regulatory Aftermath of the Global Financial Crisis written by Eilís Ferran and published by Cambridge University Press. This book was released on 2012-11-15 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.
Book Synopsis The Government response to the Independent Commission on Banking by : Great Britain: H.M. Treasury
Download or read book The Government response to the Independent Commission on Banking written by Great Britain: H.M. Treasury and published by The Stationery Office. This book was released on 2011-12-19 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: In its final report the Independent Commission on Banking (ICB) recommended a package of measures, consisting of ring-fencing vital banking services and increasing banks' loss-absorbency. The Government strongly supports the ICB's objectives and dual approach. The Government agrees that vital banking services - in particular, the taking of retail deposits - should only be provided by 'ring-fenced' banks', and that these banks should be prohibited from undertaking certain investment banking activities. On increased loss-absorbency, also supported are the ICB recommendations for higher equity requirements for large ring-fenced banks, a minimum leverage ratio, loss-absorbing debt, insured depositor preference and higher levels of loss-absorbing capacity for banks that are difficult to resolve. With regards to the principle that systemically important banks hold a minimum about of loss-absorbing capacity on a group-wide basis, however, the requirement should not apply to non-UK operations where it can be shown that those operations to do not pose a risk to UK financial stability. The Government also believes that depositor preference needs further analysis and consultation. On competition, the Government also strongly supports all the ICB recommendations. The Government estimates the aggregate private costs to UK banks at £3.5bn - £8bn, producing a gross reduction in GDP of £0.8bn - £1.8bn. Against these costs though should be set the potentially much larger benefits with the ICB's recommendations yielding an estimated incremental economic benefit of £9.5bn per annum. Significantly too the Government wants to see relevant legislation completed by the end of this Parliament in May 2015 as opposed to the ICBs recommended 2019
Book Synopsis Regulatory Policy and Governance Supporting Economic Growth and Serving the Public Interest by : OECD
Download or read book Regulatory Policy and Governance Supporting Economic Growth and Serving the Public Interest written by OECD and published by OECD Publishing. This book was released on 2011-10-25 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report encourages governments to “think big” about the relevance of regulatory policy and assesses the recent efforts of OECD countries to develop and deepen regulatory policy and governance.
Book Synopsis Economic Regulation and Its Reform by : Nancy L. Rose
Download or read book Economic Regulation and Its Reform written by Nancy L. Rose and published by University of Chicago Press. This book was released on 2014-08-29 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Book Synopsis Should Financial Sector Regulators Be Independent? by : Mr.Marc Quintyn
Download or read book Should Financial Sector Regulators Be Independent? written by Mr.Marc Quintyn and published by International Monetary Fund. This book was released on 2004-03-08 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: In nearly every major financial crisis of the past decade-from East Asia to Russia, Turkey, and Latin America-political interference in financial sector regulation helped make a bad situation worse. Political pressures not only weakened financial regulation, but also hindered regulators and supervisors from taking action against troubled banks. This paper investigates why, to fulfill their mandate to preserve financial sector stability, financial sector regulators and supervisors need to be independent-from the financial services industry as well as from the government-as well as accountable.
