This overview is a guide to the Financial Services content within the UK regulators—financial services subtopic, with links to the appropriate materials.
The Financial Services Act 2012 (FSA 2012) amended the Financial Services and Markets Act 2000 (FSMA 2000) and replaced the Financial Services Authority (FSA) with two new regulators—the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA)—and created a new Financial Policy Committee (FPC) of the Bank of England (BoE). For more information, see Practice Note: Financial Services Act 2012 [Archived].
Firms that are dual-regulated, such as banks, insurers and major investment firms, are supervised by the PRA for prudential areas and by the FCA for conduct areas. All other firms are supervised by the FCA for both conduct and prudential issues. FSA 2012 also gave the FCA new powers to regulate benchmarks and transferred responsibility for the regulation of consumer credit from the Office of Fair Trading (OFT) to the FCA. The FCA also performs the functions previously carried out by the FSA as UK Listing Authority.
The FPC has responsibility for...
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If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit
Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application
Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an
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