UK & International bodies Flashcards
Chapter 1
Bank for International Settlements (BIS)
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.
Basel Committee on Banking Supervision (BCBS)
**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.
Financial Stability Board (FSB)
Jurisdiction: International (Hosted by BIS, headquartered in Switzerland)
Coordinates the work of national financial authorities and standard-setting bodies to promote global financial stability.
International Organization of Securities Commissions (IOSCO)
Jurisdiction: International
A global association of securities regulators that develops and promotes international standards for securities regulation.
European Systemic Risk Board (ESRB)
- Part of the EU’s financial supervision framework
- Responsible for the macroprudential oversight of the EU financial system.
European Securities and Markets Authority (ESMA)
Jurisdiction: European Union (EU)
- One of the European Supervisory Authorities
- Aims to protect investors
- Ensure orderly financial markets across the EU.
European Banking Authority (EBA)
Jurisdiction: European Union (EU)
- A European Supervisory Authority
- Responsible for banking regulation and supervision,
- Part of the European System of Financial Supervision (ESFS).
European Insurance and Occupational Pensions Authority (EIOPA)
- Another European Supervisory Authority,
- Responsible for the insurance and occupational pensions sectors within the EU.
International Swaps and Derivatives Association (ISDA)
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.
Jurisdiction: International (Primarily in countries with Islamic finance)
An international standard-setting organization that issues global prudential standards for the Islamic financial services industry.
US Securities and Exchange Commission (SEC)
Jurisdiction: USA
An independent agency of the US federal government responsible for enforcing federal securities laws and regulating the securities industry.
International Chamber of Commerce (ICC)
Jurisdiction: International (Headquartered in France)
A global business organization that develops rules, including the Rules of Conduct to Combat Extortion and Bribery.
Payment Systems Regulator (PSR)
A UK regulatory body focused on the regulation of payment systems to ensure fair competition and innovation
Independent Commission on Banking (ICB)
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.