2.3.2 Regulatory changes since 2000
In the following video, Andy Haldane, chief economist at the Bank of England, talks about the changes to the regulation of financial services in recent years and the rationale for them. He particularly focuses on the role of two parts of the regulatory structure that are the responsibility of the Bank of England – the Prudential Regulation Authority (PRA) and the Financial Policy Committee (FPC).
First, Chris Woolard, director of strategy and competition at the Financial Conduct Authority (FCA), talks about the new regulatory structure and its aims from the viewpoint of this other key regulatory body.
You will examine the activities of the regulators further in Week 4.