Financial Services Regulation Essay Example | Topics and Well Written Essays - 1250 words

Financial Services Regulation - Essay Example In the context of the United Kingdom, the global financial crisis that occurred between 2007 and 2009 exposed significant failings in the corporate governance of banks. Narain et al. (2012) stated that as a result, the United Kingdom government introduced various reforms of which the latest was the enactment of the Financial Services Act on 19th December, 2012. This new act created new regulatory frameworks for the financial service industry and it subsequently abolished the Financial Services Authority. The two key regulatory frameworks that were created by this new act include the Prudential Regulation Authority and the Financial Conduct Authority (Cunningham et al. 2012). This study seeks to discuss the features of the Prudential Regulatory Authority and the Financial Conduct Authority, Approved Person Regime. The discussion will further cover the extent to which the reforms associated with the Approved Person Regime will possibly solve some of the significant failings that were n oted in corporate governance of UK’s banks in the past global financial crisis. ... In the past financial crisis, Bakker et al. (2012) stated that the significant failings that were noted on the banks corporate governance were mainly attributed to poor risk management strategies as well as inappropriate ethics and culture of the banks’ board of governance. Cunningham et al. (2012) on their part added that the failure of corporate governance was attributed to the failure in the attitude, behavior, and in certain circumstances the competence of the members of the board of governance. Therefore, this means that in order to prevent future failure of banks that can equally result to the collapse of the financial sector, it is important for organisations to cultivate an appropriate culture that is focused on delivering long-term obligations that are of benefit to the society. In this regard, Abiad et al. (2008) noted that the right organisational cultures are mainly rooted underneath ethical frameworks that are strong and use principles in individual decision makin g rather than a rational criteria. Stringent re-enforcement is required to ensure that the members of the corporate governance act along the set principles, which will deter them from violating any ethical standard. The re-enforcements come in the form of regulatory authorities such as the Financial Conduct Authority and the Prudential Regulatory Authority. Features of the Financial Conduct Authority Approved Person Regime According to Cunningham et al. (2012), the Financial Conduct Authority was established with the main mandate of regulating financial firms that are in the business of providing financial services to people residing within the UK. Consequently, this means that the regulatory body is tasked

Supply Chain Would Cease to Exist without Information Systems Research Paper

Supply Chain Would Cease to Exist without Information Systems Technologies - Research Paper Example Both association and suppliers have to practice information technology since it guarantees the integration of supply chain on condition that the associates truthfully share it and if not, their supply chain would definitely come to an end. Even as it broadens the level of knowledge it makes sure the accuracy in outlay management as well. What is more, it is a feature to evaluate the top suppliers' value and then leverage potential right through the absolute supply chain (Bharadwaj, 2000, p. 182). DHL is the wide-reaching seller of the global package and document express and logistics trade, focusing on offering modern and custom-made solutions from a single source. They analyze information technology as a practical tool. DHL runs the intercontinental air express shipping business in providing high-tech technology that presents customers smooth access to delivery and trailing information. Their spending in IT enables them to carry on exploiting the latest technologies to rationalize the shipping method and give services that let customers be further competitive. DHL exploits X.25 plus Frame Relay technology in their speedy TCP/IP exchange network (DHLNET), facilitating clients to monitor the status of deliveries, research shipping programs and rating details from anyplace in the world. Moreover, it presents helpful information on map-reading, delivery moments and system ability which allows shipments to move with ease around the world. Different innovative equipment used by DHL is Electronic Data Interchange. Deployment of EDI enhances rate and efficiency in carrying, invoicing and statistics management and permit customers to interact via symbolic electronic messages openly with DHL.