DipFS Unit 4 Topic 5

The main Act of Parliament governing the regulation of the financial services industry.

When a lender does not seek to repossess a property as soon as the borrower misses a few monthly payments.

Reducing the amount of debt in relation to assets.

Designing products and services with customers’ needs in mind, rather than making maximum profits the absolute priority.

The amount by which income from sales exceeds costs.

The delivery of financial services at affordable cost to all sections of society, including the most disadvantaged.

Any new bank that challenges the ‘big five’.

The inability to get access to even the most basic financial services and products.

This Act allows the regulatory authorities to resolve a financial providerthat is in difficulty.

The interest rate that the Bank of England uses when it lends money to other banks.

Ensuring all individuals and groups in society can benefit from certain rights and entitlements.

Legislation that focuses on the need for banks to have a plan in place in case they get into financial difficulty.

Any action or project in which a company goes beyond the interests of its shareholders and senior management.

A tool used to analyse how the external environment might affect individual and corporate financial decisions.

European Union legislation implemented on 25 May 2018.

Additional borrowing based on the difference between the value of a house and the outstanding mortgage.

A government-backed initiative set up to help home-hunters purchase a property with as little as a 5% deposit.

The Financial Times Stock Exchange Index, known as the ‘footsie’.

An aspect of financial exclusion – the inability to take part in the computer- based society.

Legislation that introduced retail ring-fencing for banks and the cap on payday lenders.

A scheme run by a public organisation to ensure that the majority of workers are enrolled in a workplace pension.

The process of making ‘dirty’ money (money gained from criminal activities) ‘clean’.