1. Consumer Credit Act 1974 Rebecca & Lee

2. What is it The Consumer Credit Act 1974 regulates consumer credit and consumer hire agreements for amounts up to £25,000. Its protections apply to agreements between traders and individuals, sole traders, partnerships and unincorporated associations, but not agreements made between traders and corporate bodies such as limited companies.

3. Rules The Act lays down rules covering: the form and content of agreements; the form and content of agreements; credit advertising; credit advertising; the method of calculating the Annual Percentage Rate (APR) of the Total Charge for Credit; the method of calculating the Annual Percentage Rate (APR) of the Total Charge for Credit; the procedures to be adopted in the event of default, termination, or early settlement; the procedures to be adopted in the event of default, termination, or early settlement; extortionate credit bargains. extortionate credit bargains.

4. The Act also requires that all traders who make regulated agreements obtain licences from the Office of Fair Trading. Credit brokers, debt advisors and others, may also require licences. The Act also requires that all traders who make regulated agreements obtain licences from the Office of Fair Trading. Credit brokers, debt advisors and others, may also require licences. Appeals can be made against decisions of the Office of Fair Trading (OFT) that a person is not fit to hold a consumer credit licence. Appeals under the Consumer Credit Act Appeals can be made against decisions of the Office of Fair Trading (OFT) that a person is not fit to hold a consumer credit licence. Appeals under the Consumer Credit Act Local trading standards departments and the Office of Fair Trading enforce the Act. The Office of Fair Trading also produces a series of booklets about the Act and its regulations. For further information contact local trading standards departments or the Office of Fair Trading. Local trading standards departments and the Office of Fair Trading enforce the Act. The Office of Fair Trading also produces a series of booklets about the Act and its regulations. For further information contact local trading standards departments or the Office of Fair Trading.

5. 2006 Review More relevant to today's consumers Establishes a fairer clearer and more competitive market for consumer credit.

6. Banking Act 1987 Apparently does not exist

7. Financial services act 2000 Created the FSA as a regulator for insurance, investment, business and banking.

8. The Financial Services and Markets Act 2000 is an act of parliament which created the Financial Services Authority (FSA) as a regulator for insurance, investment business and banking. Some of the key sections of this act are: Outlines objectives of the FSA Firms must be authorised to conduct regulated activities. Firms must be authorised to conduct regulated activities. It is criminal offence to issue a financial promotion in the United Kingdom unless it is issued or approved by an authorised firm or exempt via the financial promotions order It is criminal offence to issue a financial promotion in the United Kingdom unless it is issued or approved by an authorised firm or exempt via the financial promotions order

9. A person can not carry out certain controlling functions in a firm without approval by the FSA. A person can not carry out certain controlling functions in a firm without approval by the FSA. Private persons can sue a firm for damages if a person performing a controlled function is not approved. Private persons can sue a firm for damages if a person performing a controlled function is not approved. It concerns market abuse. It concerns market abuse. Establishes the Financial Services and Markets Tribunal. Establishes the Financial Services and Markets Tribunal. Grants the FSA rule-making power. Grants the FSA rule-making power. Private persons can sue for damages if an authorised firm has breached certain rules. Private persons can sue for damages if an authorised firm has breached certain rules. Gives the FSA power to require certain information. Gives the FSA power to require certain information. Makes it a criminal offence to mislead a market or investors. Makes it a criminal offence to mislead a market or investors.

10. Financial Services Act 1986 and 2000, and Cheques STEVE TODDY( the best!!) Sam Sam

11. Cheques Act Cheques are a common way of paying other people As around 12million are drawn and paid each day. The cheques act provides customers with the knowledge that their cheques are secure while clearing, but many customers are unaware of the technical aspects of the system so they complain about clearing times. Until the cheques act 1992 it was not required to have the name of the exact Person that the cheque is being paid to so any person could pay a cheque into Any account which posed security problems for the financial institutions

12. Financial services act 1986 It was introduced because of a lot of investment by people during the 1960’s and 70’s, so the government decided customers would need protection for their investments. Scope of the act: it covered activities of many individuals and organisations who: Provide financial products Sell financial products i.e. financial advisers Deal with investments Give advice on financial products Manage investment funds

13. Financial services act 2000 Basically…..An update of the previous page in order to include the problems of the modern era.

14. Banking Act 1987, Building Societies Act 1997 and Data Protection Act By Tim & James

15. Banking Act 1987 Followed after the collapse of Johnson Matthey. The requirements are:- Capital Adequacy – Institutions must have sufficient capital to make it very unlikely that depostits will be placed at risk Large Exposures – Institutions are required to avoid putting all their eggs in one basket and risking losses if a particular customer should be unable to meet its commitments Liquidity – Banks must maintain the confidence that deposits can be repaid on demand. Provision for Bad Debt – If an institute does not make adequate provision for bad or doubtful debts, it will overstate the value of its loans and therefore exaggerate the adequacy of its capital base.

16. Banking Act 1987 Systems and Controls – All institutions must have adequate systems for record- keeping, monitoring and control of transactions Systems and Controls – All institutions must have adequate systems for record- keeping, monitoring and control of transactions Directors and Managers – anyone occupying a senior position with an authorized institution, such as director or manager, must be acceptable to the FSA as a fit and proper person to hold that office. Directors and Managers – anyone occupying a senior position with an authorized institution, such as director or manager, must be acceptable to the FSA as a fit and proper person to hold that office. Range of Services – Institution authorized under the terms of the 1987 Act are expected offer all the following facilities to customers – Range of Services – Institution authorized under the terms of the 1987 Act are expected offer all the following facilities to customers – Current/deposit accounts Current/deposit accounts Loans/Overdraft Loans/Overdraft Foreign Exchange Facilities Foreign Exchange Facilities Finance for foreign trade Finance for foreign trade Financial advice Financial advice Investment management facilities Investment management facilities Purchase/sales facilities for securities Purchase/sales facilities for securities

17. Building Societies Act 1997 Requires that at least 50% of a Building Societies funds must be raised from share accounts held by individual members.

18. Data Protection Act 1998 The Data Protection Act 1998 defines the legal basis for the handling in the UK of information relating to living people. It is the main piece of legislation that governs protection of personal data in the UK.