CII R01 Chapter 5 Exam Questions and Answers Fully Solved
Main regulators since 2013 - Answers Bank of England
Prudential Regulation Authority
Financial Conduct Authority
Bank of England - Answers maintaining economic and financial STABILITY
strategy at least every 3 years
FPC monitors and takes action against systemic risks
to PROTECT and is part of the bank of england
Financial Policy Committee - Answers FPC
part of bank of england
monitors and takes action against systematic risks
they set the countercyclical capital buffers ,sectoral capital requirements, leverage requirements, loan
to value lending limits, loan to interest cover ratio limits
FPC has power to reject treasury ideas
meeting twice a year
Prudential regulation authority - Answers PRA
created in 2012
regulates large providers
works alongside FCA
promote safeness and financial soundness of the firms
promote effective competition in the market
it uses regulation and supervision
board is accountable to parliament
Financial Conduct Authority - Answers FCA
2013
promote effective competition
, make sure markets function well
regulate conduct of FS firms
protect customers and integrity
reports to treasury
Market abuse regulation - Answers MAR
July 2016
increase market integrity
FSCP - Answers financial services consumer panel
independent
set up to represent consumers in development of FCA policy
FCA practitioner panel - Answers external independant input from the point of view of industry into
development of FCA policy
senior level reps from major regulated sectors
Smaller business practitioner panel - Answers practitioners representing firms of small or medium size
within their sector
aim to have representation from firms across the range of regulated activities
FCA Markets Practitioner Panel - Answers external and independent input to the FCA from the point of
view of wholesale firms and markets participants.
senior level representatives of sectors participating in
wholesale markets, with some specific requirements for membership in the legislation.
FCA complaints procedure - Answers dedicated complaints team that then make recommendations to
FCA that FCA decide whether to do
if complainant is unhappy they refer to commissioner which then goes to upper tribunal
FCA fees - Answers don't recieve funding from government instead charges fees to regulated firms
They also invoice for the PRA, FSCS, FOS, MAS and FRC
it charges annual fess, change fees and application fees
Main regulators since 2013 - Answers Bank of England
Prudential Regulation Authority
Financial Conduct Authority
Bank of England - Answers maintaining economic and financial STABILITY
strategy at least every 3 years
FPC monitors and takes action against systemic risks
to PROTECT and is part of the bank of england
Financial Policy Committee - Answers FPC
part of bank of england
monitors and takes action against systematic risks
they set the countercyclical capital buffers ,sectoral capital requirements, leverage requirements, loan
to value lending limits, loan to interest cover ratio limits
FPC has power to reject treasury ideas
meeting twice a year
Prudential regulation authority - Answers PRA
created in 2012
regulates large providers
works alongside FCA
promote safeness and financial soundness of the firms
promote effective competition in the market
it uses regulation and supervision
board is accountable to parliament
Financial Conduct Authority - Answers FCA
2013
promote effective competition
, make sure markets function well
regulate conduct of FS firms
protect customers and integrity
reports to treasury
Market abuse regulation - Answers MAR
July 2016
increase market integrity
FSCP - Answers financial services consumer panel
independent
set up to represent consumers in development of FCA policy
FCA practitioner panel - Answers external independant input from the point of view of industry into
development of FCA policy
senior level reps from major regulated sectors
Smaller business practitioner panel - Answers practitioners representing firms of small or medium size
within their sector
aim to have representation from firms across the range of regulated activities
FCA Markets Practitioner Panel - Answers external and independent input to the FCA from the point of
view of wholesale firms and markets participants.
senior level representatives of sectors participating in
wholesale markets, with some specific requirements for membership in the legislation.
FCA complaints procedure - Answers dedicated complaints team that then make recommendations to
FCA that FCA decide whether to do
if complainant is unhappy they refer to commissioner which then goes to upper tribunal
FCA fees - Answers don't recieve funding from government instead charges fees to regulated firms
They also invoice for the PRA, FSCS, FOS, MAS and FRC
it charges annual fess, change fees and application fees
