Financial Services Act 2012
E96660
The Financial Services Act 2012 is a UK law that overhauled financial regulation after the 2008 crisis, creating new supervisory bodies and strengthening oversight of the financial system.
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Act of Parliament of the United Kingdom
→
United Kingdom statute → |
| abolishedBody |
Financial Services Authority
→
|
| amends |
Bank of England Act 1998
→
Banking Act 2009 → Financial Services and Markets Act 2000 → |
| assignedResponsibilityTo |
Bank of England
NERFINISHED
→
|
| country |
United Kingdom
→
|
| createdBody |
Financial Conduct Authority
→
Financial Policy Committee → Prudential Regulation Authority → |
| introducedBy |
HM Government
→
|
| jurisdiction |
United Kingdom
→
|
| languageOfText |
English
→
|
| legislature |
Parliament of the United Kingdom
NERFINISHED
→
|
| longTitle |
An Act to make provision for the regulation of financial services and markets, and for connected purposes
→
|
| motivatedByEvent |
United Kingdom banking crisis of 2007–2008
→
global financial crisis of 2007–2008 → |
| parliament |
Parliament of the United Kingdom
NERFINISHED
→
|
| policyArea |
economic policy
→
financial services → |
| primaryPurpose |
implementation of post-2008 financial crisis regulatory reforms
→
reform of financial regulation in the United Kingdom → strengthening oversight of the UK financial system → |
| providesFor |
enhanced consumer protection measures
→
macroprudential tools for the Financial Policy Committee → new enforcement powers for financial regulators → regulation of benchmarks such as LIBOR → |
| region |
England
→
Northern Ireland → Scotland → Wales → |
| regulatoryArchitecture |
twin peaks model of financial regulation
→
|
| regulatoryFocus |
conduct of business regulation
→
macroprudential oversight → prudential regulation → |
| relatedTo |
Banking Reform Act 2013
→
Financial Services Act 2010 → |
| replacedRegime |
tripartite system of financial regulation in the United Kingdom
→
|
| royalAssentDate |
2012-12-19
→
|
| shortTitle |
Financial Services Act 2012
→
|
| subjectMatter |
banking supervision
→
financial markets → financial regulation → systemic risk oversight → |
| typeOfRegulation |
conduct supervision framework
→
prudential supervision framework → |
| yearEnacted |
2012
→
|
Referenced by (5)
| Subject (surface form when different) | Predicate |
|---|---|
|
Deputy Governors of the Bank of England
→
Financial Policy Committee → Prudential Regulation Authority → |
legalBasis |
|
Financial Conduct Authority
→
|
formedBy |
|
Financial Services Act 2012
→
|
shortTitle |