... 1997 respectively. The Exchange Control Act was repealed in 1987. Reregulation The following acts are examples of reregulation in the UK Financial Services Act 1986 (FSA1986): The Securities and Investment Boars (SIB), together with SRO such as SFA, IMRO, and PIA, were set up and controlled the financial activities of investment businesses with the objective of investor protection. Building Societies Act 1986 (BSA1986): Building Societies Ombudsman and Building Societies Commission were created. It prevented the shareholders of a newly converted society from owning more than 15% of the shares until five years after becoming a Plc. Banking Act 1987 (BA1987): The protection funds afforded to personal depositors in bank. 90% of their deposits, subject to a maximum of £20000, are protected. The Building Societies Investment Protection Fund gave similar protection. Financial Services and Market Act 2000 (FSMA 2000) FSMA2000 introduces some significant changes to UK financial services law, which include: The single statutory financial regulator, Financial Services Authority (FSA), was set ...

See this essay or coursework document in full right now