OLD... LIBF DipFS Unit 4 Topic 5

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

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

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

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

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

Why is financial regulation necessary?

Reducing the amount of debt in relation to assets.

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

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

Any new bank that challenges the ‘big five’.

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

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

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

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

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

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

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

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

Regualtion benefits smaller newer providers rather than large existing banks

European Union legislation implemented on 25 May 2018.

Which of the following was a key factor in the UK becoming a 'global financial centre' prior to the financial crisis?

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

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

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

The amount by which income from sales exceeds costs.