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Feb 19

A tale of two regulators..

The UK Financial Services Authority Mission
‘If we are to get it right, we need to aim high. So we have set ourselves a challenging corporate objective. Our mission statement will be along the following lines:- The Financial Services Authority will aim to be a world-leading financial regulator, respected for its professionalism and integrity both at home and abroad’.
Launch Conference, 28 Oct 1997 Speech by Howard Davies, Chairman.

NYPDvcityThe New York State Department of Financial Services is a relatively new organisation – formed in October 2011 by transferring certain key functions of the New York State Banking Department and the New York State Insurance Department. The regulator supervises 4,400 institutions, with assets of about $6.2tn.

Its mission: “To reform the regulation of financial services in New York to keep pace with the rapid and dynamic evolution of these industries, to guard against financial crises and to protect consumers and markets from fraud.”

 

Permanent link to this article: http://transformingfinance.eu/a-tale-of-two-regulators/