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Part V Deposit-Taking and Consumer Credit Conduct of Business, 16 Conduct of Business for Banks, Other Deposit-Takers, and Payment Services Providers

Richard Clark

From: McMeel and Virgo On Financial Advice and Financial Products (3rd Edition)

Edited By: Gerard McMeel, John Virgo

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 15 June 2024

Civil liability of lenders — Deposit taking — Conduct of business regulation — Financial Services and Markets Act 2000 — Financial promotion — UK Financial Services Authority (FSA) — UK Financial Conduct Authority (FCA)

This chapter discusses the rules and regulations for the conduct of business of banks, deposit-takers, and providers of payment services. The banking and payment services conduct regime involves elements of both information regulation (an approach based on disclosure or transparency) and product regulation, in the sense of mandatory rights and obligations for the services provided. In contrast to the more highly regulated realm of retail investments, there is no attempt at advice regulation, albeit the Financial Services Authority has indicated that it is considering whether it should make further provision for advice on deposits, and in particular structured deposits (where the interest or return is dependent on the performance of an underlying index/indices, stock(s) or commodity/commodities).

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