Parliamentary Commission on Banking Standards and Special Purpose Entity: Difference between pages

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imported>Doug Williamson
(Attach PCBS's final report Volume 1 as download.)
 
imported>Doug Williamson
(Update link.)
 
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(PCBS).
(SPE).  


A legal entity established to facilitate restricted transactions or purposes for a particular sponsor or sponsors, often characterised by severely limited independence of decision making and a relatively small capital base.


The Parliamentary Commission on Banking Standards was established by the UK Parliament in 2012 to:


'''A.'''
An SPE used for a securitisation is known as a securitisation special purpose entity (SSPE).


Consider and report on:


1. Professional standards and culture in the UK banking sector, taking account of regulatory and competition investigations into the LIBOR rate-setting scandal.
== See also ==
* [[Conduit]]
* [[Entity]]
* [[Securitisation]]
* [[SPAC]]
* [[Special purpose vehicle]]
* [[Sponsor]]
* [[SSPE]]


2. Lessons to be learned about:
[[Category:Compliance_and_audit]]
 
2.1. Corporate governance.
 
2.2. Transparency.
 
2.3. Conflicts of interest.
 
2.4. Their implications for regulation and for UK Government policy.
 
 
'''B.'''
 
Make recommendations for legislative and other action.
 
The Commission's 2013 report proposes:
 
(1) Making the individual responsibility of senior bankers a reality.
 
(2) Reinforcing each bank's own responsibility for its own soundness and the maintenance of its standards.
 
(3) Creating better functioning and more diverse banking markets.
 
(4) Reinforcing regulators's responsibility to exercise judgement in deploying their powers.
 
(5) Specifying the responsibilities of the UK Government.
 
 
The Commission's report setting out its conclusions and recommendations can be downloaded here:
[[Media:PCBS_report_June_2013.pdf‎ PCBS final report June 2013]]
 
 
==External links==
*[http://www.parliament.uk/bankingstandards UK Parliament: PCBS]
 
[[Category:Regulation_and_Law]]
[[Category:Control_and_Reporting]]
[[Category:Policy_and_Objectives]]
[[Category:The_Treasury_Professional]]

Latest revision as of 15:17, 19 August 2021

(SPE).

A legal entity established to facilitate restricted transactions or purposes for a particular sponsor or sponsors, often characterised by severely limited independence of decision making and a relatively small capital base.


An SPE used for a securitisation is known as a securitisation special purpose entity (SSPE).


See also

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