
Contents
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Financial Services Regulation Financial Services Regulation
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Financial Services and Markets Financial Services and Markets
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Regulatory function Regulatory function
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Financial Services and Markets Act Financial Services and Markets Act
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Regulatory transfer Regulatory transfer
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Statutory framework Statutory framework
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Rules and guidance Rules and guidance
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Financial Instability Financial Instability
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Inter-Bank markets Inter-Bank markets
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US financial crisis US financial crisis
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Stock market collapse Stock market collapse
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Financial support and stimulus Financial support and stimulus
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Sovereign debt and Eurozone crisis Sovereign debt and Eurozone crisis
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Financial Scandal Financial Scandal
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Financial losses Financial losses
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LIBOR LIBOR
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Money laundering and sanctions Money laundering and sanctions
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Bank charges Bank charges
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Payment protection insurance and interest rate swaps Payment protection insurance and interest rate swaps
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Regulatory Response Regulatory Response
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Turner review Turner review
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FSA reform FSA reform
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Banking Act 2009 Banking Act 2009
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Financial stability and the Financial Stability Committee Financial stability and the Financial Stability Committee
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Financial Services Act 2010 Financial Services Act 2010
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Council for Financial Stability Council for Financial Stability
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Regulatory Reform Regulatory Reform
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Mansion House Mansion House
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Treasury consultation Treasury consultation
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Joint Parliamentary Committee Joint Parliamentary Committee
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Treasury Select Committee Treasury Select Committee
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Independent Commission on Banking Independent Commission on Banking
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Parliamentary Commission on Banking Standards Parliamentary Commission on Banking Standards
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Financial Services Act 2012 Financial Services Act 2012
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Bank of England Bank of England
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Statutory background Statutory background
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Operations Operations
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Monetary Analysis and Statistics Monetary Analysis and Statistics
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Markets Markets
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Financial Stability Financial Stability
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Banking Services Banking Services
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Central Services Central Services
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Court of Directors Court of Directors
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Oversight Committee Oversight Committee
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Functions Functions
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Monetary Policy Monetary Policy
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Financial Stability Financial Stability
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Prudential Regulation Prudential Regulation
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Resolution Resolution
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Market Infrastructure Market Infrastructure
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Liquidity Management Liquidity Management
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Agency Coordination and Crisis Management Agency Coordination and Crisis Management
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FCA and PRA FCA and PRA
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Crisis management Crisis management
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International organisations International organisations
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Market infrastructure Market infrastructure
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Overseas authorities Overseas authorities
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Cite
Extract
Financial Services Regulation
UK financial regulation has been subject to substantial revision in recent decades. The structure of financial regulation was fundamentally revised in 2000 with the creation of a single regulatory framework, and then again in 2012 with the establishment of a new macro-prudential and split prudential and conduct institutional model. Both events followed major political shifts with appointment of a Labour Government following the General Election in May 1997, followed by the election of a Coalition Conservative–Liberal Democrat Government in May 2010. Regulatory adjustment has also been driven by continued market instability, loss, and scandal, and especially following the devastating effects of the global financial crisis beginning in autumn 2007 with the contraction in inter-bank lending markets. An initial set of regulatory reforms had been adopted in the UK by the outgoing Labour Administration before the change of Government in 2010, and then again by the new Coalition Government which followed. These changes were brought into effect in response to the massive losses and damage suffered following the global financial crisis and subsequent contagious effects within the UK banking and financial system and real economy.
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