|
|
|
Financial services glossary
All
| Term |
Definition |
| MiFID |
|
| Retail Distribution Review (RDR) |
The FSA Discussion Paper published in June 2007 (DP07/1). The paper looks to re-invent the distribution of retail financial services in the UK. Specifically promoting discussion in the following areas: - sustainability of the distribution sector;
- impact of incentives on advice processes;
- professionalism and reputation of the sector;
- consumer access to financial products and services; and
- regulatory barriers and enablers for the market solutions.
|
| Solvency II |
Fundamental review of the capital adequacy regime for
the European insurance industry that aims to establish a revised set of
EU-wide capital requirements. The framework consists of three ‘pillars’. Pillar 1
sets out the minimum capital requirements firms will be required to
meet for insurance, credit, market and operational risk. Pillar 2 will
be the supervisory review process – because of this, supervisors may
decide that a firm should hold additional capital against risks not
covered in pillar 1. The aim of pillar 3 disclosures is to harness
market discipline by requiring firms to publish certain details of
their risks, capital and risk management.
|
|
Butterworths FSA Investigations and Enforcement conference