The Bank of England is the central bank of the United Kingdom. Within “About the Bank” and then “Governance and funding” there is a Legislation section containing the Bank of England Acts 1694, 1946 and 1998, the Banking Act 2009, the Financial Services Act 2012, and the Bank of England Charters of 1694 and 1998. There is a section devoted to the Prudential Regulation Authority (PRA), a part of the Bank of England which was created on 1 April 2013 as one of the two new regulators replacing the Financial Services Authority (FSA). Other site content includes various publications and statistics.
The Basel Committee on Banking Supervision provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. The site contains press releases, speeches, working papers and newsletters. Under the “Central bank hub” tab there is a set of links to the web sites of central banks worldwide.
The British Bankers’ Association is a trade association for banks which operate in the UK.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance. Material published by BBA prior to 1st July 2017 is still available on this web site.
Elexica is a free legal resource from the international law firm Simmons & Simmons, providing frequent updates in the fields of dispute resolution, banking and building/construction, among many others. Typically the materials within each subject area will include practice notes, current awareness materials, case summaries and guidelines. Email newsletters are also available. Registration is required for full access.
The Financial Conduct Authority (FCA) regulates the financial services industry in the UK. It was established on 1 April 2013 as one of the successors to the Financial Services Authority (FSA), and has since 1 April 2015 had concurrent competition powers in relation to financial services alongside the Competition and Markets Authority. The Financial Services Register, a register of all the firms, individuals and other bodies regulated by the FSA, is accessible online. There is a link to the separate Handbook Online site which makes available in one location both the FCA Handbook and the Prudential Regulation Authority Rulebook, together with related guidance.
The Financial Ombudsman Service, created by the Financial Services and Markets Act (FSMA) 2000, settles disputes between businesses providing financial services and their customers. Its site includes details of the complaint process, annual reviews 1999/2000 onwards, a link to the FSMA 2000, and a link to the dispute resolution section of the Financial Conduct Authority Handbook (on the FCA site), under which it operates. There is a regular online newsletter Ombudsman News.
The Financial Services Authority (FSA) was responsible for regulation of the financial services industry in the UK between 2001 and 2013. Site content remains available but is no longer updated. There are links to archived versions on the National Archives site, and to the web sites of the two new authorities which replaced the FSA from 1 April 2013, the Financial Conduct Authority and the Prudential Regulation Authority.
The LSB aims to ensure that all personal and small business borrowers receive a fair deal from their lender as set out in the Standards of Lending Practice. The LSB replaced the Banking Code Standards Board from 2 November 2009. Information on its web site includes details of the LSB’s role and complaint procedure. The Standards for personal and business customers are available on the web site. There is also an Insight Centre which contains a Lending Code archive and annual reports.
The Payment Systems Regulator (PSR) is a subsidiary of the Financial Conduct Authority which operates as the independent economic regulator of the payment systems industry in the UK. It has concurrent competition powers alongside the Competition and Markets Authority and became fully operational on 1 April 2015. Publications on the PSR’s web site include consultations, policy statements, annual plans and reports.
This part of the GOV.UK portal relates to the policy of HM Treasury and the Home Office on combating money laundering and terrorism financing, as described in the policy paper Preventing money laundering.
The Prudential Regulation Authority (PRA) is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms in the UK. It is part of the Bank of England, and was established by the Financial Services Act 2012 as one of the successors to the Financial Services Authority (FSA). Within the Prudential Regulation section of the Bank of England web site there are PRA publications, consultations, and information on the regulatory data which firms need to provide. The PRA Rulebook and the Financial Services Register are accessible via external links.
UK Finance represents nearly 300 of the leading firms providing finance, banking, markets and payments-related services in or from the UK. UK Finance has been created by combining most of the activities of the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. It came into being on 1 July 2017. The web site contains news, consultations and various statistics.