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What is the UK approach to regulating new financial products?

What is the UK approach to regulating new financial products?

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Answer #1

The new approach to regulating the financial institutions are:

1. Seeting up a sprecial resolution unit or a bad bank which is responsible for resolving failing banks using the sepical resolution regime

2. Taking steps for identification and taking action to reduce the systemic risks in order to enhance the resiliance of the United Kingdom's financial system.

3. Enhancing financial stability by promoting the safety and soundness of Prudential Regulation Authority (PRA) authorised persons, including minimising the impact of their failure.

4. Enhancing confidence in the UK financial system by facilitating efficiency and choice in services, securing an appropriate degree of consumer protection, and protecting and enhancing the integrity of the UK financial system

The diagramatic represenation is as shown beow:

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