Financial Services Regulation (2024)

FAQs

Financial Services Regulation? ›

An integral part of financial regulation is the supervision of designated financial firms and markets by specialized authorities such as securities commissions and bank supervisors. In some jurisdictions, certain aspects of financial supervision are delegated to self-regulatory organizations.

There are numerous agencies assigned to regulate and oversee financial institutions and financial markets in the United States, including the Federal Reserve Board (FRB), the Federal Deposit Insurance Corp. (FDIC), and the Securities and Exchange Commission (SEC).

According to the Federal Reserve, financial regulation has two main intended purposes: to ensure the safety and soundness of the financial system and to provide and enforce rules that aim to protect consumers.

Regulatory compliance in financial services imposes rules or principles that determine who can conduct financial services business and how authorised firms must do so.

The regulatory agencies primarily responsible for supervising the internal operations of commercial banks and administering the state and federal banking laws applicable to commercial banks in the United States include the Federal Reserve System, the Office of the Comptroller of the Currency (OCC), the FDIC and the ...

Welcome to the Financial Conduct Authority.

The Federal Reserve Act (FRA) establishes the Federal Reserve System as the central banking system of the United States responsible for managing the supply of money and providing oversight to its member banks.

Various regulators oversee the mortgage industry, the insurance industry, and the stock markets. By overseeing and regulating financial markets and institutions, these financial regulators serve to uphold the integrity of the financial markets, ensuring stability, transparency, and fairness.

What is financial reporting regulation? ›

What exactly is regulatory reporting? Regulatory reporting involves sending financial and non-financial information to government agencies and other organizations that oversee financial markets and institutions. The goal is to make sure that these markets and institutions are transparent and accountable.

Examples of what compliance means in the world of finance

1. Know Your Customer (KYC): KYC involves verifying the identities of clients to prevent illegal activities such as money laundering or fraud. It may include checking identification documents and conducting background checks.

Some of the major regulatory compliance examples related to financial and non-financial sectors include the Sarbanes-Oxley Act, Health Insurance Portability and Accountability Act (HIPAA), Payment Card Industry Data Security Standard (PCI DSS), Federal Information Security Management Act (FISMA), and the European ...

Financial regulations have goals to protect consumers and ensure financial stability.

The Federal Reserve System is the central bank of the United States.

The financial regulator regulates the financial services industry including markets, exchanges and firms. They typically work for government bodies or independent standards organisations to ensure financial services meet industry-specific regulations.

These regulations ensure that businesses produce only safe, approved products, through fair and regulated means, ensuring that they cannot hurt consumers, and cannot too easily outcompete small businesses. Govern ment regulation, when done right, is the key to a fair, competitive econo my.

The Federal Register is the chronological publication of proposed regulations, final regulations, and related materials. The Code of Federal Regulations (CFR) is a subject arrangement of regulations.