UK & International bodies

Question 1

Bank for International Settlements (BIS)

Answer 1

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.

Question 2

Basel Committee on Banking Supervision (BCBS)

Answer 2

**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.

Question 3

Financial Stability Board (FSB)

Answer 3

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

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

Question 4

International Organization of Securities Commissions (IOSCO)

Answer 4

Jurisdiction: International

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

Question 5

European Systemic Risk Board (ESRB)

Answer 5

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

Question 6

European Securities and Markets Authority (ESMA)

Answer 6

Jurisdiction: European Union (EU)

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

Question 7

European Banking Authority (EBA)

Answer 7

Jurisdiction: European Union (EU)

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

Question 9

European Insurance and Occupational Pensions Authority (EIOPA)

Answer 9

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

Question 10

International Swaps and Derivatives Association (ISDA)

Answer 10

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.

Answer 11

Jurisdiction: International (Primarily in countries with Islamic finance)

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

Question 12

US Securities and Exchange Commission (SEC)

Answer 12

Jurisdiction: USA

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

Question 13

International Chamber of Commerce (ICC)

Answer 13

Jurisdiction: International (Headquartered in France)

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

Question 14

Payment Systems Regulator (PSR)

Answer 14

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

Question 15

Independent Commission on Banking (ICB)

Answer 15

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.

Question 16

Bank of England

Answer 16

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

Question 17

Prudential Regulation Authority (PRA)

Answer 17

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

Question 18

Financial Conduct Authority (FCA)

Answer 18

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