The Open University since 2006
Alternatively you can skip the navigation by pressing 'Enter'.
More or Less: How many cows for a fiver?Sunday, 4th December 2016 20:00 - BBC Radio 4 BBC Radio 4
The Secret History of Our Streets - London: Arnold CircusTuesday, 6th December 2016 22:00 - BBC Four
The Secret History of Our Streets - London: Arnold CircusThursday, 8th December 2016 00:45 - BBC Four
Vienna: Empire, Dynasty and Dream: Episode 1: The Imperial City 1160-1683Thursday, 8th December 2016 21:00 - BBC Four
More or Less: How many cows for a fiver?Available for over a year
Colour: The Spectrum of Science: Episode 1: Colours of EarthAvailable until Saturday, 31st December 2016 23:00
BBC Inside Science - 2016/2017 series: Alzheimer's research, Lucy, Glowing bandage package, Supernovas to HollywoodAvailable for over a year
The Secret History of Our Streets - London: Reverdy RoadAvailable until Saturday, 31st December 2016 01:30
Human Rights Week10 December is Human Rights Day but here at The Open University we'll be exploring progress made... Read more: Human Rights Week
Take the photographic memory testCan you capture scenes just by looking at them? Find out with our photographic memory test. Launch now: Take the photographic memory test
Exploring equality and equity in educationThis free course, Exploring equality and equity in education, considers the complexity of social... Try: Exploring equality and equity in education now
Organisations and management accountingThis free course, Organisations and management accounting, examines the nature of organisations,... Try: Organisations and management accounting now
This free course, Introduction to financial services, examines the history of the development of financial services in the UK and the ways in which the sector is regulated. It will help you to understand how financial crises affect the UK and most other major economies and the consequences for the sector.
After studying this course, you should be able to:
- understand aspects of the recent historical evolution of the UK financial services
- understand certain features of the current structure of the UK financial services sector
- understand certain features of the regulation of UK financial firms
- assess whether the regulatory environment for financial services is effective
- understand the rationale for, and content of, current reforms to financial services regulation.
- Current section: Introduction
- Learning outcomes
- 1 The causes and consequences of the 2007–2008 financial crisis
- 2 The revolution in financial services in the 1980s and 1990s
- 3 The regulation of financial services firms
- 4 The alleged failings of regulation
- 5 Reformation of the financial services industry
- Keep on learning
Study this free course
Enrol to access the full course, get recognition for the skills you learn, track your progress and on completion gain a statement of participation to demonstrate your learning to others. Make your learning visible!
Introduction to financial services
This course examines the origins and consequences of the recent financial crisis – a crisis that brought many banks and other financial institutions to their knees.
The course then looks back at aspects of changes in the financial services sector that occurred under the Conservative governments of the 1980s and 1990s. These changes laid the foundations for the boom in the financial services industry in the years up until the crisis in the late 2000s.
The course moves on to look at certain features of the ways that financial firms are currently regulated. Financial services regulation has come under the microscope in the wake of the financial crisis and we will examine one case in particular where regulation appears to have failed – the near collapse of Northern Rock Bank in 2007.
The course concludes by looking at the reforms to the regulation of the financial services industry that are unfolding in the wake of the financial crisis following the 2010 general election.
This OpenLearn course is an adapted extract from the Open University course.
Copyright & revisions
Originally published: Wednesday, 18th May 2011
Last updated on: Thursday, 11th February 2016
- Creative-Commons: The Open University is proud to release this free course under a Creative Commons licence. However, any third-party materials featured within it are used with permission and are not ours to give away. These materials are not subject to the Creative Commons licence. See terms and conditions. Full details can be found in the Acknowledgements and our FAQs section.
- This site has Copy Reuse Tracking enabled - see our FAQs for more information.
If you enjoyed this, why not follow a feed to find out when we have new things like it? Choose an RSS feed from the list below. (Don't know what to do with RSS feeds?)
Remember, you can also make your own, personal feed by combining tags from around OpenLearn.
All our alternative formats are free for you to download, for more information about the different formats we offer please see our FAQs. The most frequently used are Word (for accessibility), PDF (for print) and ePub and Kindle to download to eReaders*.
- Word (1003 KB)
- PDF (2.2 MB)
- ePub 3.0 (6.4 MB)
- ePub 2.0 (803 KB)
- Kindle (313 KB)
- RSS (178 KB)
- HTML (6.3 MB)
- SCORM (6.3 MB)
- OUXML Package (26 KB)
- OUXML File (78 KB)
- IMS Common cartridge
- Moodle backup (6.6 MB)
*Please note you will need an ePub and Mobi reader for these formats.