Home · Legal Subject Areas · Banking (11 sites)
Bank of England

The Bank of England is the central bank of the United Kingdom. Within “About the Bank” and then “How we are governed” 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.

Basel Committee on Banking Supervision

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.

British Bankers’ Association

The British Bankers’ Association is a trade association for banks which operate in the UK. Publications on its site include current versions, together with associated guidance, of the Lending Code  and the Code of Conduct for the Advertising of Interest Bearing Accounts (both found within the “Policy” section). The “Publications” section contains leaflets and details of BBA reports.

Elexica

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.

Financial Conduct Authority

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.

Financial Ombudsman Service

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.

Financial Services Authority

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.

Lending Standards Board

The Lending Standards Board (LSB) is responsible for monitoring and enforcing compliance with the Lending Code, a voluntary code of practice for banks, building societies and credit card providers which replaced the earlier Banking Code. 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 current Lending Code and earlier versions are found under the “Insight centre” tab and then “Resources and information”.

Payment Systems Regulator

The Payment Systems Regulator (PSR) is a subsidiary of the Financial Conduct Authority but 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.

Preventing Money Laundering

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.

Prudential Regulation Authority

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 PRA 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.