Compliance and Financial Regulation Essay Example | Topics and Well Written Essays - 2500 words

Compliance and Financial Regulation - Essay Example Whilst being not able to set out required decision taking details the Government’s strategy for administrative reconstruction it probably added some more twists to the pre said regulatory base which was explained inside Chancellor’s Mansion House lecture on June 16, 2010. Unavoidably the proposals from the Government need to dissolve the FSA and replace it with: (Norton Rose pp.2-3) †¢ Brand new macro-prudential controller, the FPC, made inside BoE. †¢ A new economical policy, known as PRA, created as a helpful of BoE. †¢ One fresh conduct of trade regulator, regionally named as Consumer Protection as well as Markets Authority (CP MA). The intrinsic rearrangement on April 4 is the opening move although the FSA clarified that at a point like this it will be stagnant and immobile to â€Å"twin peaks† administration. Instead of that little initiative moves in eventual manner prepare it till 2012 approach towards twin peak. The FPC’s suggested s tatutory target is summarized here. ... Summary of proposals for the Bank’s and FPC’s objectives The target of FPC is structured to connect to the Bank of England aims subsequently: †¢ The FPC has to be exercising its works with a motive to helping to the goals by the Bank of England of the economical Stability Objective. †¢ Liabilities of the FPC related to the getting the goals related fundamentally to the recognition, monitoring, and action taking to amputate or decrease, schematic risk factors with a motive to guard and enhance the flexibility of the United Kingdom economical system. †¢ These schematic risks include, particularly – systemic risk factors attributable to conformational features of commercial markets or may be to the administration of risk in the financial zones and destabilizing levels of influence, debt or capital outlay increment. †¢ It does not need or authorizes the FPC in exercising its works in a process that would be in its say similar of having a distincti ve adverse impact on the capability of the economical sector to help in the development of the United Kingdom finance in the long run. †¢ â€Å"Systemic risk† speaks of a risk factor to the balance of the United Kingdom economical regulation as a total or maybe to an important part of the system. (Great Britain: Parliament: House of Commons: Treasury Committee, House of Commons Treasury Committee (COR) pp. 10-13) PRA’s objectives Conference of the Government in July, it was adduced that the FCA along with PRA should function to their individual strategic and functional targets. The PRA would be having a strategic target concentrating on financial balance, with a regulatory objective that emphasizes the promotional part of PRA for soundness of the firms in a mode that never rules out the chance of firm

The Education Systems of England and Saudi Arabia Essay

The Education Systems of England and Saudi Arabia - Essay Example 'The British government has set a national curriculum, which clearly defines different stages and core subjects for children ages 5 to 16 (The Education System in England, n.d.). It specifies the various subjects to be taught at different stages, the expected knowledge, skills, and understanding level for the various subjects, and how the children's progress should be tested (The Education System in England, n.d.).' (qtd. in University of Michigan, n.d.) THE NATIONAL CURRICULUM (ENGLAND) The National Curriculum consists of 11 subjects, including; English, design and technology, geography, math, information technology, music, science art, physical education, history and modern foreign language. The National Curriculum is split up into for stages, referred to as Key Stages, and are based on the student's age. The key stage of a child reflects what subjects will be studied and the method by which they will be taught. Key Stage 1 includes children ages 5-8, Key Stage 2 consists of children 8-11, Key Stage 3 is made up of children ages 11-14, and Key Stage 4 is composed of children 14-16. At the end of each Key Stage, students are required to take a standardized test, known as the SAT, associated with that particular stage. The achievement level Surname 3 obtained on each test is then reported to the parents and the public in two ways: the student's actual test grade and the teacher's individual assessment of each student (The Education System in England, n.d.).' (qtd in University of Michigan, n.d.) In Saudi Arabia, the educational system is structured with the same strict control by the government as it is strict in England, or maybe perhaps stricter. 'Government control... 'Government control of schoolbooks to guarantee they are consistent with Islam and devoid of anything conflicting with its principles. The Saudi government maintains control of every aspect of educational material:[15] "The government shall be concerned with the control of all books coming into the Kingdom from abroad or going out of the Kingdom to the outside world. No books shall be allowed for use unless they are consistent with Islam, the intellectual trends and educational aims of the Kingdom..."[16] The government policy also states: "All books should fulfill the aims of education and be devoid of anything conflicting with Islam."[17]Students also learn "how to face misleading rumors, destructive doctrines, and alien thoughts,"[18]The Saudi education authorities insist "the school textbooks should be in line with Islamic requirements."[19]'. (Stalinsky, 2002). Additionally, the British Council affirmed and posted 'After five years of secondary education, students take examinations in a range of subjects at the level of General Certificate of Secondary Education (GCSE). The GCSE is a single-subject examination set and marked by independent examination boards.