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Encyclopedia > Financial regulation

Financial supervision is government supervision of financial institutions by regulators. The objective is to uphold existing regulations for the financial sector and ultimately to maintain stability of financial markets. A financial institution acts as an agent that provides financial services for its clients. ... In finance, financial markets facilitate: The raising of capital (in the capital markets); The transfer of risk (in the derivatives markets); and International trade (in the currency markets). ...

Contents


Aims of supervision

The specific aims of financial regulators are usually:

  • To minimise financial loss of depositors in banks or policy holders of insurance companies
  • To enforce applicable laws
  • To prosecute cases of market misconduct, such as insider trading
  • To license providers of financial services

There are two kinds of trading that are referred to as insider trading or inside dealing: Usually illegal: Trading of a security of a company (, stocks, bonds or stock options) based on material non-public information. ...

Authority by Country

The U.S. Securities and Exchange Commission, commonly referred to as the SEC, is the United States governing body which has primary responsibility for overseeing the regulation of the securities industry. ... The United Kingdom Financial Services Authority (FSA) is an independent non-governmental body that regulates the UK financial services industry. ... The China Securities Regulatory Commission (zh: 中国证券监督管理委员会) is an institution of the State Council of China. ...

Australia

The Australian Prudential Regulation Authority (APRA) supervises banks and insurers. Australian Securities and Investments Commission (ASIC) is responsible for enforcing financial services and corporations laws. The Australian Prudential Regulation Authority (APRA) is the Australian regulator of banks, credit unions, building societies, insurance companies, friendly societies and superannuation funds. ... The Australian Securities & Investments Commission (ASIC) is an independent Australian government body that acts as Australias corporate regulator. ...


See also

The banking industry are under certain regulations and requirements that aim to uphold the soundness and integrity of the financial system. ... Finance studies and addresses the ways in which individuals, businesses and organizations raise, allocate and use monetary resources over time, taking into account the risks entailed in their projects. ...

External links


  Results from FactBites:
 
Final Rule: Privacy of Consumer Financial Information (Regulation S-P) (16789 words)
A few commenters suggested that the regulation state that a financial institution is not obligated to comply with an example but has the latitude to comply with the general rules in other ways.
We note that a financial institution that is a trustee assumes obligations as a fiduciary, including the duty to protect the confidentiality of the beneficiaries' information, that are consistent with the purposes of the G-L-B Act and enforceable under State law.
We recognize that a financial institution may not have systems in place or trained personnel to handle opt out elections at each point of contact between a consumer and financial institution and therefore may choose not to honor opt out elections communicated to the institution through means other than those specified for the consumer.
(Clinical Trials) Complying with FDA's Financial Disclosure Regulation (MDDI archive, Jan 00) (3058 words)
This regulation is the culmination of discussions that began in the late 1980s with members of Congress and a series of public meetings that FDA initiated in 1993.
The goal of this regulation is to ensure that sponsors identify and disclose clinical investigators' financial interests and arrangements that could affect the reliability of data submitted to FDA in support of a marketing application.
Financial disclosure information is one more tool in the research quality assurance process; however, obtaining and using these data may be more complicated than some of the more traditional techniques.
  More results at FactBites »

 

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