Structure of UK Financial Regulation
The role of each body, the difference between FCA and PRA, what the FPC does, and the requirement for authorisation.
Structure of UK Financial Regulation
The UK uses a "twin peaks" model with conduct regulation (FCA) separate from prudential regulation (PRA). Understanding each body's role is fundamental.
True or false?
The UK uses a "twin peaks" model with conduct regulation (FCA) separate from prudential regulation (PRA)
HM Treasury
Bank of England
Financial Policy Committee (FPC)
Prudential Regulation Authority (PRA)
Which term matches: "financial safety and soundness of firms"
What does "Primary objective" mean?
Match each term in "Prudential Regulation Authority (PRA)" to its meaning
Tap a term, then tap its matching definition.
Fill in the blank
______ — contributing to financial stability
Authorisation – The Permission to Operate
Which term matches: "Permission granted to carry out specific regulated activities"
What does "Appointed Representative (AR)" mean?
Type the term that means: "Permission granted to carry out specific regulated activities"
Match each term in "Authorisation – The Permission to Operate" to its meaning
Tap a term, then tap its matching definition.
What the exam tests
The role of each body, the difference between FCA and PRA, what the FPC does, and the requirement for authorisation.
True or false?
The role of each body, the difference between FCA and PRA, what the FPC does, and the requirement for authorisation
Additional notes
Which term matches: "consumer protection, market integrity, competition"
What does "New secondary objective (FSMA 2023)" mean?
Type the term that means: "consumer protection, market integrity, competition"
Fill in the blank
______ — competitiveness and growth