17. FCA's aims and activities

Question 1

Financial Policy committee

Answer 1

Committee of BOE
Looks at economy on broad scale
identify and address risk

Question 2

Conduct regulation

Answer 2

regulation requiring goods and services to be traded in good faith with consumers

Question 3

Prudential regulation

Answer 3

ensuring that a business is established and run on a sound financial basis

Question 4

Systematically important. providers

Answer 4

providers whose failures would have a significant adverse impact national or global on finance

Question 5

Prudential regulation authority

Answer 5

supervision of banks and financial institutions

Question 6

3x Objectives of FCA

Answer 6

1. Appropriate degree of protection
2. protecting and enhancing integrity of financial systems
3. Promoting effective competition

Question 7

4x FCA Powers

Answer 7

1. Competition Powers
2. Product Intervention Powers
3. Power of disclosure
4. Power to take formal

Question 8

6 Outcomes to ensure fair treatment

Answer 8

1. Fair treatment
2. Products meet the needs
3. Clear information
4. Suitable advice
5. Perform to an acceptable standard
6. No unreasonable barriers