Regulators:

I was thinking for a long time that I should write something on regulators in Banking terminology then the next question arises that

What is the Regulators?:

Who aim to prevent financial crimes by regulations and laws. Regulations require you first to KYC check your customers during the onboarding process and then follow their financial transactions. Companies that meet this Know Your Customer (KYC) requirement will ensure compliance.?

Or other way i would say :

In the context of banking and finance, "regulators" refer to the governmental or non-governmental entities responsible for overseeing and regulating the activities of financial institutions, such as banks, credit unions, and other financial intermediaries. The primary role of regulators is to ensure the safety, soundness, and stability of the financial system, protect the interests of consumers, and enforce compliance with relevant laws and regulations. Here are some key points about regulators in banking:

1. Financial Stability: Regulators aim to maintain the overall stability of the financial system. They monitor and assess risks that could potentially lead to systemic financial crises and take measures to prevent such crises.
2. Consumer Protection: Regulators work to protect the rights and interests of consumers who use financial services. This includes ensuring fair lending practices, preventing fraud and abusive practices, and promoting transparency in financial products and services.
3. Prudential Regulation: Regulators enforce prudential regulations that govern the financial health and risk management practices of banks and financial institutions. These regulations include capital adequacy requirements, liquidity management, and risk assessment.
4. Supervision and Examination: Regulators conduct regular examinations and supervision of banks and financial institutions to assess their financial condition, risk management practices, and compliance with laws and regulations.
5. Licensing and Chartering: Regulators often have the authority to grant licenses and charters to new banks and financial institutions, allowing them to operate within a jurisdiction. They may also revoke licenses or impose restrictions on institutions that do not meet regulatory requirements.
6. Enforcement of Laws and Regulations: Regulators have the power to enforce compliance with financial laws and regulations. This includes taking enforcement actions against institutions that violate rules, such as issuing fines, ordering corrective actions, or even shutting down institutions in severe cases.
7. Regulatory Agencies: In many countries, there are specific regulatory agencies responsible for overseeing the banking and financial sector.
8. International Coordination: Banking regulators often cooperate on an international level to address global financial stability and cross-border issues. Organizations like the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision work to develop international standards and guidelines for banking regulation.
9. Financial Innovation: Regulators are also responsible for adapting to financial innovation and technology changes. They need to ensure that regulations keep pace with developments in fintech and digital banking to maintain financial stability and consumer protection.

Regulator Entity: Regulated by the financial regulator of that particular country to carry out financial activities. Eg: UK Companies House, India-Ministry of Corporate Affairs

Regulators of USA:

1. The Federal Reserve Board.
2. Office of the Comptroller of the Currency
3. Federal Deposit Insurance Corporation.
4. Office of Thrift Supervision.
5. CFTC- Commodity Futures Trading Commission
6. FINRA- Financial Industry Regulatory Authority
7. State Bank Regulators.
8. State Insurance Regulators.

Regulators of India:

1. RBI- Reserve Bank of India
2. SEBI- Securities and Exchange Board of India
3. IRDA- Insurance Regulatory and Development Authority of India
4. PFRDA- Pension Fund Regulatory & Development Authority

NABARD-National Bank for Agriculture and Rural Development

Regulators of UK:

1. Financial Conduct Authority (FCA)
2. Financial Reporting Council.
3. Institute of Chartered Accountants in England and Wales.
4. Office of the Regulator of Community Interest Companies (ORCIC)
5. Payment Systems Regulator (PSR)
6. Pensions Regulator.

Prudential Regulation Authority (PRA)

Regulators of Australia:

1. The Australian Prudential Regulation Authority (APRA)
2. The Australian Securities and Investments Commission (ASIC)
3. The Reserve Bank of Australia (RBA)

The Australian Treasury.

Regulators of Germany:

1. The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, - BaFin

Regulators of Netherland:

The Netherlands Authority for the Financial Markets (Dutch: Autoriteit Financi?le Markten)

Regulators of Hongkong:

1. Securities & Futures Commission
2. Insurance Authority
3. Monetary Authority

Regulators of Singapore:

1. Monetary Authority of Singapore (MAS)
2. Civil Aviation Authority of Singapore (CAAS)
3. Central Provident Fund Board (CPFB)
4. Accounting and Corporate Regulatory Authority (ACRA)
5. Board of Architects (BOA) .

Regulators of Malaysia:

1. Bank Negara Malaysia (BNM)
2. Securities Commission Malaysia (SC)
3. Labuan Financial Services Authority (Labuan FSA)
4. Malaysian Stock Exchange (Bursa)

Regulators of European union:

1. the European Parliament (Brussels/Strasbourg/Luxembourg)
2. the European Council (Brussels)
3. the Council of the European Union (Brussels/Luxembourg)
4. the European Commission (Brussels/Luxembourg/Representations across the EU)