Lecture2汇.pptVIP

Principles to which it must have regard in exercising functions : section 2(3) : -international character of financial services and markets and desirability of maintaining UK’s competitive position -minimisation of adverse effects on competition -desirability of facilitating competition between persons subject to FSA regulation Other structural and constitutional aspects of FSA Section 7 – principles of good corporate governance Section 8 – duty to consult (recently modified slightly) Role of consumer panel and role of practitioner panel in rule making and policy development Key Parts of FSMA 2000 setting out what FSA can do – note very wide scope – includes securities market regulation too Part IV – Authorisation and permission- we will look at this in lectures and seminar 2 Part X – rule-making powers Part V – Approved Persons – Individuals within industry – we will look at this in seminars Parts VII and X11 – control of certain changes in business ownership in the financial services industry and transfers of banking and insurance business – Part XI – Information Gathering/Investigation Parts XXV and XXVI- Discipline and enforcement Part XVII – Authorisation and constitution of collective investment schemes Parts XXVII – prosecution of certain offences peculiar to financial markets Part VI – Official Listing Part VIII – Market integrity through market abuse regime FINALLY A KEY PIECE OF NEW LEGISLATION Banking Act 2009 Many of the UK interventions in financial markets and financial institutions so far this year have been passed pursuant to this new legislation and to previous emergency legislation Banking (Special Provisions) Act 2008 LEGAL AND REGULATORY ASPECTS OF BANKING AND FINANCIAL SUPERVISION Lecture Two Joanna Gray LL.B., LL.M. (Yale Law School), Solicitor (England and Wales), Professor of Financial Regulation in Newcastle Law School, University of Newcastle upon Tyne, UK. Overview of Topic for Lecture Two Legal and regulatory tec