The FCAs strategic objective will be to protect and enhance confidence in the UKs financial system. Its operational objectives will be threefold: (i) securing an impound degree of protection for consumers, (ii) protecting and enhancing the integrity of the UK financial system, and (iii) promoting faculty and choice in the market for financial services.
The PRAs frequent objective will be to promote the safety and wiseness of PRA-authorised persons. That objective is to be met primarily by: ? seeking to promise that the business of PRA-authorised persons is carried on in a way which avoids both adverse effect on the stability of the UK financial system; and ? seeking to minimise any adverse effect that the ruin of a PRA-authorised person could be expected to have on the stability of the UK financial system.
Could be good to question the FSA scattered impact vs the original MOU. As the tripartite system came under scrutiny around breakdown in communications, FPC now under the BOE should improve this, better monitoring.
an agreement between the three part of the regulatory system in the UK: the Bank of England (BoE), the Financial service Authority (FSA)11 and the Treasury.
However one issue that could arise subsequently in the circle of self-stat reg is
Transfer of powers from the BOE to the FSA in 1998 was partly suggested as it was felt that the BoE had a relationship with banks that was too close and that it tended to draw in soft color or light touch regulation.
FPC - Some of its tools come in the form of putting cumberions on lending. So while the committee might indispensability to restrict the loan-to-value at which mortgages can be sold, it might also want to alter...If you want to get a full essay, order it on our website: Ordercustompaper.com
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