Financial Regulation Buzz Words
Basel III (EU) - Improve regulatory supervision and risk management (Quantitative) , on the amount of capital held by the banking sector.
MiFID II (EU) - Improved competitiveness amongst the single market participants for investment services and activities, ensuring a high degree of harmonised protection for investors.
ESMA (EU) - Technical standards and technical advices, as per implementation of MiFID II
- Improve market liquidity amongst participants e.g.
Dodd Frank Act (USA) - US legislation to promote stability across the financial sector
- Accountability & Transparency.
- Ending tax payer bailouts.
- Consumer protection from financial services malpractices.
Independent Commission of Banking (UK) - Separation of core retail banking from investment banking (ring fencing)
- Improves financial liquidity (equity / leveraging).
- Increased capital requirements for financial institutions.
Prudential Regulatory Authority (PRA) - regulates and supervises financial services firms, alongside the Financial Conduct Authority (FCA)
- PRA works to ensure market stability.
- FCA supervises the individual organisations.
Payment Services Oversight - Responsible for the assurance of prudent operations for the inter-banking payment and settlements systems (BACS, CHAPS, etc….)