Financial Services Act 2012

Updated: 22nd November 2021

An overview of the Financial Services Act 2012

The Financial Services Act 2012 is an act of parliament that introduced and implemented a regulatory framework design to replace the Financial Service Authority with three new regulatory bodies:

  • Financial Conduct Authority (FCA) – An agency assigned with the task of maintaining the integrity of financial markets and regulating retail and wholesale financial firms that offer services to consumers.

  • Prudential Regulation Authority (PRA) – A part of the Bank of England responsible for the supervision and regulation of banks, insurers, building societies, major investment firms, and credit unions. In essence, it sets the standards for financial firms and monitors the conduct of each individual firm.

  • Financial Policy Committee (FPC) -- A committee modelled after the Monetary Policy Committee, given the responsibility of monitoring economic activity in the United Kingdom. Any risks identified by the committee are passed on to the PRA for further investigation.

If you have any curiosities about UK law or business rescue options, feel free to contact our licensed insolvency practitioners. If you’d prefer a free phone consultation you can call our directors’ support hotline on 0800 644 6080. Real Business Rescue provide director advice online, over the phone, or in-person at one of our 100 UK offices or a place of your convenience.

Keith Tully

Partner

0800 644 6080
Director Support - Business suffering from Cash-Flow Problems?
If your company is financially distressed, we also offer the below services:
Business debt recovery

  • Recover Unpaid Invoices of £5k+
  • Expert Credit Control Services
  • Stop Late Payers & Bad Debts
Visit Site
Time to pay experts

  • Get Breathing Space with HMRC
  • Support with Business Tax Arrears
  • 35 Years HMRC Negotiation
Visit Site
UK Business Finance

  • Rejected for a CBILS Loan?
  • Get Emergency Business Funding
  • Supporting 1000+ UK Companies
Visit Site
Who we help
  • Company Directors
  • Finance Directors
  • Sole Traders
  • Accountants
  • Small Businesses
  • Large Businesses
  • Partnerships

This site uses cookies to monitor site performance and provide a more responsive and personalised experience. You must agree to our use of certain cookies. For more information on how we use and manage cookies please read our PRIVACY POLICY