1. Financial Services Authority.
1. Overview The Financial Services Regulatory Authority was reorganized from1June 1997, and the Securities and Investment Commission (SIB) was established in June 1985. It is an independent non-governmental organization, and plans to become a unified regulator of the British financial market, exercising its statutory duties and reporting directly to the Ministry of Finance.
●65438+ The first stage of reform was completed in1June 1998, and the banking supervision function was transferred from the Bank of England to the FSA.
● In June 2000, the Royal Family approved the Financial Services and Markets Act 2000, which will be implemented on 200 1. At that time, the responsibilities of the Securities and Futures Authority, the investment management supervision organization, the individual investment authority, the building society committee, the friendly societies committee and the friendly societies registry will be merged into the Financial Services Authority.
2. Objective To supervise the financial services industry. Maintain an efficient, orderly and clean financial market. Help small and medium-sized consumers get fair trading opportunities.
3. According to the Financial Integration Market Services Act of 2000, there are four objectives:
(1) Maintain the confidence of British financial markets and industries.
(two) to promote public understanding of the financial system, to understand the interests and risks of different types of investment and financial transactions.
(three) to ensure that the industry has appropriate operational capabilities and a sound financial structure to protect investors. At the same time, educate investors to correctly understand investment risks.
(4) Supervising, preventing and cracking down on financial crimes.
● Basic principles for achieving goals
(A) the management philosophy of attaching importance to cost and benefit.
(2) Accelerate the reform of financial services.
(3) Pay attention to the essence of financial management and internationalization of financial services, and maintain the competitive position of Britain.
(4) strike a balance between the burdens and restrictions imposed on the company and the interests of consumers and industry supervision; The value of maintaining the company's reasonable competition.
4. Responsibilities: Responsible for supervising banking, insurance and investment, including securities and futures. The Financial Services Department, together with the Bank of England (BOE), belongs to the Ministry of Finance and is responsible for managing financial undertakings, while BOE's main task is to maintain financial stability.
Britain is currently the country with the most complete financial services in the world, and all financial services institutions registered in its territory are strictly supervised by the Financial Services Regulatory Authority (FSA).
2.CFTC: Commodity Futures Trading Commission (CFTC).
1974, the United States Congress established the Commodity Futures Trading Commission (CFTC). As an independent institution, CFTC shoulders the mission of supervising American commodity futures and options. With the passage of time, the mission of CFTC is constantly updated and expanded, and the latest expansion of CFTC's mission is embodied in the Commodity Futures Modern Act of 2000.
The futures trading of 1974 mainly occurs in the agricultural sector. The history of CFTC shows that in other sectors, the futures industry has become more and more colorful with the passage of time. Today, the futures industry includes a large number of highly complex financial futures contracts. Today, CFTC ensures the economic efficiency of the futures market by encouraging market competition, protecting market participants from fraud, market manipulation and abuse of transactions, and ensuring the financial authenticity in the liquidation process. Through effective supervision, CFTC can make the futures market play the role of price discovery and risk transfer.
The task of CFTC is to protect market users from fraud, manipulation and abuse of transactions related to the sale of commodities and financial options futures; Cultivate an open, competitive and financially healthy futures and options market.
The organizational structure of CFTC includes committee members, the chairman's office and the agency operation department.
The committee consists of five members. These five members are nominated by the President and approved by the Senate, and they serve each other for five years. The president appointed one of them as chairman. No more than three members from the same political party.
NFA: National Futures Association (NFA).
The National Futures Association (NFA) is a self-regulatory organization in the futures industry established on 1976 according to the provisions of Section 17 of the American Commodity Exchange Act, and it is a non-profit membership organization. Article 17 of the Commodity Trading Law originates from Chapter III of the Commodity Futures Trading Commission (CFTC) Law 1974, which stipulates the registration of futures associations and CFTC's supervision of futures professional self-regulatory associations. On September 22nd, 198 1, CFTC accepted NFA as a "registered futures association", and on June 22nd, 1982, 10, NFA officially started to operate.
The NFA performs the following regulatory duties:
● Audit and supervision members must meet the financial requirements of NFA;
● Formulate and implement rules and standards to protect customers' interests;
● Arbitration of disputes related to futures;
● To approve NFA membership, futures brokers (FCM), referral brokers (IB), commodity trading consultants (CTA) and commodity joint venture fund managers (CPO) can all become NFA members.
In addition, under the authorization of section 17, NFA performs some registration functions previously performed by CFTC in the Commodity Exchange Law. Any institution or individual registered in CFTC can become a member of NFA, including all futures exchanges and any other futures business, as long as the applicant meets the requirements of NFA membership. In addition, since August 3 1, 1985, according to the commodity trading law, employees of NFA members need to be registered as "related persons" of NFA. CFTC also authorizes NFA to handle the registration applications of floor brokers and floor traders. According to NFA rules, all FCM, IB, CTA and CPO must obtain NFA membership.
4.ASIC: Australian Securities Investment Commission (ASIC).
The Australian Securities Investment Committee was established on 200 1 under the Australian Securities Investment Committee Act. This institution independently exercises the supervision function of companies, investment behaviors, financial products and services according to law. The Australian Securities Investment Committee is the regulatory body of Australia's foreign exchange retail industry.
The above are the financial regulatory agencies that are the main gathering places of foreign exchange dealers, in addition to the Japan Financial Agency, the Hong Kong Securities Regulatory Commission, the Swiss Financial Market Supervision Bureau and the German Federal Financial Supervision Bureau. If you don't understand anything, please consult and exchange.