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11 Supervision and Other Powers

From: Financial Services Regulation in Practice

Simon Morris

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 27 January 2022

Subject(s):
Bank supervision — Macro-prudential oversight — Financial Services and Markets Act 2000 — Supervision

This chapter examines the topic of Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) supervision. Supervision is the regulatory function of seeking to ensure that firms are complying with the regulators’ principles, rules, and other policies. Under the FCA and PRA self-regulation and light-touch supervision have been rejected in favour of approaches that ensure the resilience of the financial system. This chapter studies the process by which the regulators review authorised persons’ activities to check for compliance with their standards, together with five further regulatory processes or powers: change in control, powers over parent undertakings, short selling, the regulation of two specific market segments, and insolvency.

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