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7 Cards in this Set
- Front
- Back
- 3rd side (hint)
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FSCS Financial Services Compensation Scheme |
Deposits such as current accounts are secured to £85,000 Investments and mortgages are covered up to £50,000 There is no charge for the general public to use this service. |
List what they do |
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CMA Competition and Markets Authority |
Promotes in market competition between providers Investigating mergers , conducting market studies and investigations. |
Regulation of market |
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NS&I Nation savings and investments |
People who want 100% of their savings guaranteed. This provides a range of saving products including cash ISA’s instant cash accounts and long term savings. Doesn’t pay interest on premium bonds instead put into a raffle for an amount of money. |
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Financial Ombudsman Service |
This is to handle consumer complaints. |
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Money Advice Service |
A consumer information service set up by the government to help people make informed financial decisions with no bias |
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PRA Prudential Regulation Authority |
This company work together with the FRA to regulate banks across the country. PRA sets requirements and standards such as Banks having enough Cash(Liquidity) Having suitable management Conducting business prudently man against risk well and ensure that business is sweet and sound |
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FCA Financial Conduct Authority |
Is an independent body which reports directly to the Treasury. Companies regulated by this have to give a running cost to cover the running costs. To ensure appropriate degree of protection to customers Enhance inter gritty of UK financial system. Promote competition. |
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