Changes in Organization of Financial Market Supervision in Great Britain as Possible Inspiration for European Union
2014
Abstract
The model of the financial market supervision subsequently changed in the Great Britain at the beginning of this year. The original Financial Services Authority was abolished and two new authorities were established, the Financial Conduct Authority and the Prudential Regulation Authority (included into the Bank of England).
This change, where the prudential supervision was separated from the supervision of business conduct towards clients, can become a very strong impulse for following changes of the financial market supervision in the other European countries and even in the European Union itself. Therefore the author of the paper briefly analyses this change and tries to discover possible influence of the change that should be followed.