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The Federal Financial Supervisory Authority streamlines the overseeing of insurance, securities, banks, and financial services providers in Germany. It is an independent organization that upholds public law and reports to the Federal Ministry of Finance. While it has many functions, its chief focus is the financial system’s stability. The History and Performance of the Federal…
The Financial Services Agency (FSA) is Japan’s financial regulatory body. In 2000, the FSA emerged from the reorganization and merger of the Financial System Planning Bureau and the Financial Supervisory Agency. Based in Tokyo, it focuses on consumer protection and reports directly to the Minister of State for Financial Services. The Functions of the Financial…
The Financial Conduct Authority is a regulatory body that operates independently of the government. It oversees financial bodies in the United Kingdom and receives funding through fees paid by its members. It partners with the Financial Policy Committee and the Prudential Regulation Authority to set regulations. The FCA’s activities generate billions in tax revenue for…
The Great Recession of 2008 shook America to its core. It dismantled the country’s economic stability and created a hard market crash that required years of recovery. The federal government passed the Dodd-Frank Wall Street Reform and Consumer Protection Act as part of its recovery efforts. Financial professionals credit this for the birth of the…
The FPC is a statutory body of the Bank of England. It promotes the smooth operation of England’s financial system. Like other regulatory bodies, it preserves the system’s stability and aims to create an unfavorable environment for fraud and other crimes. Doing so protects consumer rights, commercial investments, and public economic interests in England. History…
The Federal Financial Institutions Examination Council is a formal coalition of federal agencies that regulate the financial sector. It aims to streamline the supervision of financial institutions. To this end, five federal agencies work together to create uniformity across several regulatory fields and levels. The Council recommends standards, principles, and report forms for conducting federal…
The Financial Administration Act is a Canadian legislation dictating the government’s financial management. It sets rules and regulations for managing finances at all levels, including the preparation of financial statements, the management of public funds, and the control of borrowing and debt. History of the Financial Administration Act The Financial Administration Act was first enacted…
Financial technology (FinTech) describes new technologies and innovative business models that improve and automate the delivery of financial services. It includes a wide range of products and solutions, from digital wallets to blockchain-based systems. FinTech has grown rapidly in recent years due to changes in consumer behavior, increased access to technology and data, and the…