The Financial Services Authority (FSA) issued in July 1999 draft Statements of Principle and Code of Practice for Approved Persons in preparation for the new regulatory regime to be introduced under the proposed new Financial Services and Markets Act. In December it issued draft rules and...

The Financial Services and Markets Act will introduce a new framework for dealing with cases of market abuse. In broad terms the framework will cover market manipulation, the misuse of information not generally available to the market and the dissemination of misleading information. The...

This paper is confined to an overview on the disciplinary and appeal procedures contained in the Financial Services and Markets Act 2000. The paper will not deal with market abuse, civil remedies, intervention or criminal prosecutions. It will, however, deal with discipline procedure and the...

Section 1(1) of the Financial Services and Markets Act (the Act) provides: ‘the body corporate known as the Financial Services Authority (“the Authority” [the FSA]) is to have the functions conferred on it by or under this Act’.

After first being issued in draft in July 1998 and then taking a year to go through Parliament, the Financial Services and Markets Act 2000 (FISMA) finally became law on 14th June, 2000. The Treasury, the government department responsible for the UK financial services industry, has, however,...

This paper considers the principles underpinning the proposals for a comparative information scheme for personal financial services products. In October 1999 the Financial Services Authority (FSA) issued Consultation Paper 28: ‘Comparative Information for Financial Services’ which outlines...

As readers of this Journal are probably by now immersed in the strategic and practical preparatory work for the full implementation of the Financial Services and Markets Act (N2) next year (which, at the time of writing, is expected to be summer 2001) it is nevertheless worthwhile casting a...

This paper describes the problems of bank regulation and supervision found in Tanzania, Uganda and Zambia, highlighting the institutional weaknesses facing bank regulators. It also reviews the recent banking regulation and supervision reforms designed to strengthen the regulatory and supervisory...

As part of a deregulation initiative for small businesses, the audit exemption limit was raised to £1m by the Audit Exemption (Amendment) Regulations 2000 in May 2000. This paper examines the possible consequences of this change on the supply of registered auditors' services and the subsequent...

This paper presents an integrated regulatory model to protect depositors in the event of a retail financial institution run or failure. In Australia, many of the factors included in this model are either not in existence, or if in existence have not been fully implemented. A review of regulatory...