Regulation of building societies and mutual societies

Regulation of building societies and mutual societies guidance:

This Practice Note looks at the regulated activity of accepting deposits (often referred to as deposit taking). Accepting deposits is a key hallmark of banks, credit...

Practice Note

Core elements of credit unions Credit unions are a type of financial services firm that provide savings, insurance and credit opportunities. Credit unions are a type of...

Practice Note

Regulatory powers in relation to building societies Broadly speaking, the powers of the Financial Conduct Authority (FCA) and the Prudential Regulation...

Practice Note

Background to the client money rules The rules governing how a firm must safeguard and handle client money held in relation to its investment business are found in...

Practice Note

Nature of a building society A building society is a financial institution that offers savings accounts and mortgages as its main business. A building society is a mutual...

Practice Note

Overview of the Building Societies Act 1986 The Building Societies Act 1986 (BSA 1986) gave building societies what, at the time, was a completely new...

Practice Note

The PRA's strategy Up until 1 March 2017, the Prudential Regulation Authority (PRA), was a subsidiary company of the Bank of England (BoE). However, from 1 March 2017 the...

Practice Note

What is retail banking? Retail banking refers to banking activities conducted with the general public, small enterprises and charities. It comprises a...

Practice Note

How is the relationship of a banker to a customer formed? The Bills of Exchange Act 1882 (BEA 1882) establishes that a person becomes a customer when the...

Practice Note