UK & International bodies Flashcards

Chapter 1

1
Q

Bank for International Settlements (BIS)

A

Jurisdiction: International (Headquartered in Switzerland)

Established in 1930, the BIS serves as a central bank for central banks and promotes international monetary and financial cooperation.

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2
Q

Basel Committee on Banking Supervision (BCBS)

A

**Jurisdiction: **International

  • A committee under the Bank for International Settlements (BIS)
  • Provides a forum for cooperation on banking supervision worldwide
  • Sets global standards, including the Basel Accords.
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3
Q

Financial Stability Board (FSB)

A

Jurisdiction: International (Hosted by BIS, headquartered in Switzerland)

Coordinates the work of national financial authorities and standard-setting bodies to promote global financial stability.

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4
Q

International Organization of Securities Commissions (IOSCO)

A

Jurisdiction: International

A global association of securities regulators that develops and promotes international standards for securities regulation.

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5
Q

European Systemic Risk Board (ESRB)

A
  • Part of the EU’s financial supervision framework
  • Responsible for the macroprudential oversight of the EU financial system.
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6
Q

European Securities and Markets Authority (ESMA)

A

Jurisdiction: European Union (EU)

  • One of the European Supervisory Authorities
  • Aims to protect investors
  • Ensure orderly financial markets across the EU.
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7
Q

European Banking Authority (EBA)

A

Jurisdiction: European Union (EU)

  • A European Supervisory Authority
  • Responsible for banking regulation and supervision,
  • Part of the European System of Financial Supervision (ESFS).
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8
Q
A
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9
Q

European Insurance and Occupational Pensions Authority (EIOPA)

A
  • Another European Supervisory Authority,
  • Responsible for the insurance and occupational pensions sectors within the EU.
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10
Q

International Swaps and Derivatives Association (ISDA)

A

Jurisdiction: International (Headquartered in the USA)

  • A membership association
  • Fostering a safe and efficient derivatives market through the ISDA Master Agreement and other standardised contracts.
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11
Q
A

Jurisdiction: International (Primarily in countries with Islamic finance)

An international standard-setting organization that issues global prudential standards for the Islamic financial services industry.

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12
Q

US Securities and Exchange Commission (SEC)

A

Jurisdiction: USA

An independent agency of the US federal government responsible for enforcing federal securities laws and regulating the securities industry.

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13
Q

International Chamber of Commerce (ICC)

A

Jurisdiction: International (Headquartered in France)

A global business organization that develops rules, including the Rules of Conduct to Combat Extortion and Bribery.

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14
Q

Payment Systems Regulator (PSR)

A

A UK regulatory body focused on the regulation of payment systems to ensure fair competition and innovation

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15
Q

Independent Commission on Banking (ICB)

A

A UK government inquiry set up to investigate reforms to the UK banking sector to promote stability and competition after the 2007-08 financial crisis.

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16
Q

Bank of England

A

The central bank of the United Kingdom, it oversees monetary policy, financial stability, and regulation of financial institutions.

17
Q

Prudential Regulation Authority (PRA)

A

Part of the Bank of England, responsible for the regulation and supervision of banks, building societies, credit unions, insurers, and major investment firms.

18
Q

Financial Conduct Authority (FCA)

A

A UK regulatory body responsible for overseeing the conduct of financial firms to protect consumers and ensure market integrity.