As of 1 April 2013, the Financial Services Authority (FSA) established separate ‘prudential’ and ‘conduct’ business units and ceased operations.
As part of the move to this ‘twin peaks’ operating model, it has been necessary for the FSA to determine for the time being which investment firms fall into these groups.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The prudential business unit (PBU) prudentially will supervise banks, insurers and large investment firms, and will be regulated by The Prudential Regulation Authority (PRA), headed by Andrew Bailey, which is part of the Bank of England (BoE).
Meanwhile the Financial Conduct Authority (FCA), headed by Martin Wheatley, will take over much of the FSA’s regulation responsibilities and will have sole oversight of IFAs, investment advisers and brokers.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
