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Regulatory zone - Banking sector
Law-Now
08.07.2011
The new regulatory order - read about how the Government's plans to abolish the FSA and create a new Prudential Regulatory Authority and Financial Conduct Authority will affect regulated firms. This page contains information on the proposed new European System of Financial Supervision. Our RegZone institutional reform charts show international, European and UK institutions - the current position and proposed changes.
In order to examine the potential measures available for the regulation of the banking sector the government set up the 'Independent Commission on Banking'. To read our analysis of their April 2011 consultation document, click here.
To read our 2010 report on the diverse range of reforms being introduced to regulation and capital in the banking sector, click here.
Current legislative reform is also encompassing the areas of accounting, stress testing, securitisation and credit rating. To read about the likely significant impact, click here.
A timeline for reform– the timeline sets out dates for key developments, such as consultation periods and publication dates for future reports, as well as implementation dates for rule changes
Banks – the regulatory agenda - all banks face huge challenges in dealing with the tougher regulatory environment. At CMS we are deeply involved in the regulatory change at all levels and our experts are frequently quoted by leading commentators and the national press.
In the June 2010 emergency budget, the UK government announced plans for a bank levy based on balance sheet liabilities which was implemented from 1 January 2011. Click here and here to read our reports on the levy.
Retail banking and consumer finance - retail banking and consumer finance is an area undergoing extensive reform. Our retail banking and consumer finance webpage considers the changes being made to consumer credit, mortgages, bank accounts and consumer complaints procedures, as well as those in the coalition’s ‘policy pipeline’.
Previous materials on this topic
Our early 2010 in-depth analysis of the diverse range of reforms that were being introduced to financial regulation in the banking sector - click here for our report ‘Reforming the financial regulation of banks’. This report breaks down the specific issues and policy responses.
Other topics of interest to banks
In addition to these banking-specific reforms, a number of broad-scope measures will apply to the financial sector as a whole. Visit our topic-specific RegZone pages for more information on:
Click here for a full list of ‘Current regulatory issues by topic’
Seminar programme - click here for a list of our upcoming seminars and events.
If you would like to look at these topics in more detail, follow the sequence for developments or read the underlying publications, please click here.
Click here to return to the regulatory zone homepage
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