Commentary: Growth Prospects and Financial Services

2009 ◽  
Vol 207 ◽  
pp. 4-9 ◽  
Author(s):  
Martin Weale
Keyword(s):  
Financial Crisis ◽  
Financial Services ◽  
Financial Services Industry ◽  
Services Sector ◽  
Financial Services Sector ◽  
The Past ◽  
The Future ◽  
Growth Prospects ◽  
Services Industry

Over the past twenty years the expansion of the British economy has been supported by growth in the financial services industry. With the onset of the financial crisis it seems most unlikely that the financial services industry can, in the future, act as the sort of motor of growth that it had done in the past. This commentary provides an overview of the role of the financial services sector in the economy over the past twenty years and assesses likely developments in the future. It first assesses the contribution of the sector to the economy and then considers the issues surrounding its likely shape in the future.

scholarly journals Sustainability Assurance in Socially-Sensitive Sectors: A Worldwide Analysis of the Financial Services Industry

2018 ◽  
Vol 10 (8) ◽  
pp. 2777 ◽  
Author(s):  
Elies Seguí-Mas ◽  
Fernando Polo-Garrido ◽  
Helena Bollas-Araya
Keyword(s):  
Financial Services ◽  
Sustainability Reporting ◽  
Great Variability ◽  
Financial Services Industry ◽  
Company Size ◽  
Services Sector ◽  
Global Context ◽  
Financial Services Sector ◽  
Environmentally Sensitive ◽  
Services Industry

Sustainability reporting and assurance have considerably increased in the last decades. Among different sectors, ‘sensitive sectors’ attracted the attention of many academics. However, most of research works were focused only on ‘environmentally-sensitive sectors’. Therefore, after the loss of trust caused by the lack of transparency due to the crisis, ‘socially-sensitive sectors’ as financial services sector needs to strengthen users’ confidence in the credibility of their reported activities. The aim of this paper is to assess assurance practices worldwide in one of the main ‘socially-sensitive sectors’: the financial services sector. We study what factors are associated with adoption of assurance and choice of assurance provider, and whether assurance statements differ across providers. Our results reveal that, compared to the global context, companies operating in the financial services sector are more likely to adopt assurance and to choose accountants as assurance providers. Our findings show that adoption of assurance depends on company size. We also found that companies using the financial services sector supplement are more prone to adopt assurance. Our results also evidence that choice of assurance provider depends on the country and listing status Finally, our research shows a great variability in assurance statements across providers.

scholarly journals Analisis Yuridis Tujuan dan Kewenangan Otoritas Jasa Keuangan (OJK) dalam Lembaga Perbankan di Indonesia

PRANATA HUKUM ◽  
2018 ◽  
Vol 13 (2) ◽  
pp. 168-180 ◽  
Author(s):  
Yulia Hesti
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Financial Services Industry ◽  
Services Sector ◽  
Financial Services Sector ◽  
Regulation And Supervision ◽  
Consumer Rights ◽  
Integrated Regulation ◽  
Services Industry ◽  
Article 5

The industry of the financial services or banking sector is demanded to be constantly stable, that is healthy, transparent and well managed. Such banking conditions can build consumers to continue to actively engage in transactions. However, as time goes by the development of the financial services industry in Indonesia is increasing and the cross-sectoral problems of the financial services industry are increasingly in need of reform in the field of banking law, then the Financial Services Authority is formed as an institution that will replace Bank Indonesia in the supervision of banks and supervise institutions other finance. OJK in its formation has several objectives to carry out supervision, especially in the financial services sector. Pursuant to Article 4 of the OJK Law, OJK was formed with the aim that all activities within the financial services sector: (a) be organized regularly, fairly, transparently and accountably; (b) Able to realize a financial system that grows sustainably and stably; and (c) Able to protect the interests of consumers and society. Based on its authority, the OJK carries out the task of regulating and supervising the banking sector in accordance with its functions as stipulated in Article 5 of the OJK Law which functions to organize an integrated regulation and supervision system for all activities within the financial services sector. With the presence of OJK in supervision, banking and other financial institutions can create harmonious regulations so as to protect consumer rights.

scholarly journals Risk Return Analysis of Selected Stocks of Indian Financial Sector

2021 ◽  
pp. 111-124
Author(s):  
Sonia Lobo ◽  
Ganesh Bhat S.
Keyword(s):  
Financial Services ◽  
Financial Services Industry ◽  
Financial Investment ◽  
Services Sector ◽  
Financial Services Sector ◽  
Risk Return ◽  
Monthly Return ◽  
Significant Difference ◽  
Services Industry ◽  
The Individual

Purpose: Indian stock markets are channelizing financial resources for the economic progress of the country. The Indian Financial Services sector is the subset of the stock market which is playing a key role in stock trading. The Indian Financial Services industry is multifaceted and is growing rapidly both in terms of the robust growth of existing firms and the entry of new players playing a stellar role. This surge in growth of the Financial Services sector led many investors to divert their investment towards the financial services segment. To construct an attractive portfolio, the individual investor should perform a risk-return analysis well in advance. This will assist the investor in determining the risk-return relationship in various securities. Given this background, the study is undertaken to evaluate the risk-return patterns of the Indian Financial Services sector securities. Design/Methodology/Approach: The risk and return of sample group of companies belonging to the Indian Financial Services sector are analyzed to arrive at a monthly return by taking the monthly closing price of five financial investment companies belonging to the Standard & Poor’s BSE Finance Index for the period January 2020 to July 2021. To achieve the objectives various statistical tools such as descriptive statistics, correlation, and Beta are adopted. Also, a paired t-test is performed to check the validity of the hypothesis. Findings: The study has brought to light that India Infoline Finance Ltd (IIFL Finance) has provided the highest monthly returns with a high beta value. Further, the tested hypothesis reveals that there exists a significant difference in the monthly returns of the S&P BSE Finance Index and JSW Holdings. Originality/value: The study emphasizes the risk-return analysis of selected stocks of the Indian Financial Services sector. Potential investors will benefit from this equity analysis because it will enable them to make more intelligent and accurate investment decisions. Paper Type: A case study of the Indian Financial Services Industry

scholarly journals PERAN OTORITAS JASA KEUANGAN TERHADAP PENGAWASAN LEMBAGA KEUANGAN DI INDONESIA

2019 ◽  
Vol 1 (02) ◽  
pp. 177-188
Author(s):  
Annisa Arifka Sari
Keyword(s):  
Capital Market ◽  
Financial Services ◽  
Financial Service ◽  
Legal Basis ◽  
Legal Research ◽  
Services Sector ◽  
Financial Services Sector ◽  
Stable Manner ◽  
The Government

Penelitian ini bertujuan untuk menjelaskan peran Otoritas Jasa Keuangan sebagai lembaga independen dalam melakukan pengawasan terhadap lembaga jasa keuangan di Indonesia serta kewenangan Otoritas Jasa Keuangan yang diatur dalam Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan. Metode yang digunakan dalam penelitian ini adalah penelitian hukum normatif. Dari hasil penelitian dijelaskan bahwa Otoritas Jasa Keuangan adalah lembaga yang independen dan bebas dari campur tangan pihak lain, yang mempunyai fungsi, tugas, dan wewenang pengaturan, pengawasan, pemeriksaan, dan penyidikan terhadap lembaga jasa keuangan seperti perbankan. Dasar hukum dibentuknya Otoritas Jasa Keuangan adalah Undang-Undang Nomor 21 Tahun 2011. Secara kelembagaan, Otoritas Jasa Keuangan berada di luar pemerintah, yang dimaknai bahwa Otoritas Jasa Keuangan tidak menjadi bagian dari kekuasaan pemerintah. Otoritas Jasa Keuangan dibentuk dengan tujuan agar keseluruhan kegiatan di dalam sektor jasa keuangan terselenggara secara teratur, adil, transparan, dan akuntabel; mampu mewujudkan sistem keuangan yang tumbuh secara berkelanjutan dan stabil; serta mampu melindungi kepentingan konsumen dan masyarakat. Otoritas Jasa Keuangan bertugas tidak hanya mengatur dan mengawasi perbankan saja, tetapi juga mencakup pasar modal, perasuransian, dana pensiun, lembaga pembiayaan, serta lembaga jasa keuangan lainnya.    THE ROLE OF FINANCIAL SERVICES AUTHORITY ON SUPERVISION OF FINANCIAL INSTITUTIONS IN INDONESIA This research aims to explain the role of the Financial Services Authority as an independent institution in supervising financial service institutions in Indonesia as well as the authority of the Financial Services Authority as regulated in Law Number 21 of 2011 concerning the Financial Services Authority. The method used in this research is normative legal research. From the research results, it is explained that the Financial Services Authority is an independent institution and free from interference from other parties, which has the function, task and authority to regulate, supervise, examine and investigate financial service institutions such as banks. The legal basis for the establishment of the Financial Services Authority is Law Number 21 of 2011. Institutionally, the Financial Services Authority is outside the government, which means that the Financial Services Authority is not part of the government's power. The Financial Services Authority was formed with the aim that all activities in the financial services sector are carried out in an orderly, fair, transparent and accountable manner; able to realize a financial system that grows in a sustainable and stable manner; and able to protect the interests of consumers and society. The Financial Services Authority is tasked with not only regulating and supervising banking, but also covering the capital market, insurance, pension funds, financing institutions, and other financial service institutions.    

scholarly journals The Role of Otoritas Jasa Keuangan (Financial Services Authority) in Supervising Sharia Banking Products in Indonesia

2019 ◽  
Vol 2 (4) ◽  
pp. 375-384
Author(s):  
Ida Hanifah
Keyword(s):  
Financial Services ◽  
Financial System ◽  
System Stability ◽  
Islamic Banking ◽  
Services Sector ◽  
Financial Services Sector ◽  
Product Service ◽  
Moral Damage ◽  
Effective Supervision

The number of cross-sectoral issues in the financial services sector including Islamic banking, which includes moral hazard measures, lack of optimal protection of financial services, and the disruption of financial system stability increasingly encourage the need for the establishment of a supervisory institution in the integrated financial services sector. The source of moral damage in the management of the economy encourages the establishment of newsupervision institutions, more accountable and has a tighter function in overseeing the financial system so that it can better guarantee the achievement of financial system stability. Based on that, Financial Services Authority was formed. Various regulations that have been and will be made by the Financial Services Authority related to Islamic banking are expected to be able to provide protection for the Islamic banking industry as well as spur the development of Islamic banking in Indonesia. More comprehensive and effective supervision of sharia banking is needed along with the increase in market players, product / service variants, and increasingly innovative and complex technological advancements. During this time the existence of Financial Services Authority for Islamic banking has not felt its existence. Financial Services Authority Law is still silent on sharia-based financial services.

4 Criminal Prosecutions by Regulators—Procedural Considerations

2020 ◽  
Author(s):  
Russen Jonathan ◽  
Kingham Robin
Keyword(s):  
Financial Services ◽  
Criminal Proceedings ◽  
Services Sector ◽  
Financial Services Sector ◽  
Discrete Area ◽  
Evidence Collection ◽  
Court Proceedings

This chapter examines the role of the FCA and the PRA as prosecuting authorities and their right to bring criminal proceedings in pursuit of their regulatory objectives as enshrined in the Financial Services and Markets Act 2000 (FSMA). The FCA and the PRA are not the only agencies responsible for the prosecution of criminal offences in the financial services sector; the jurisdiction of the Serious Fraud Office (SFO) in particular often overlaps with that of the FCA and the two agencies can work in tandem. Meanwhile, although a discrete area of criminal practice, the regulators’ powers to administer a caution to an offender should not be overlooked—particularly in the context of ongoing investigations. Acceptance of a caution can provide an offender with a way of avoiding conviction and sanction whilst offering the prosecutor an ‘easy win’ without the need for costly court proceedings. The chapter then considers key procedural issues as well as the importance of evidence collection and deployment in financial services prosecutions.

scholarly journals The Role of ‘Digitalization’ in German Sustainability Bank Reporting

2020 ◽  
Vol 8 (1) ◽  
pp. 16 ◽  
Author(s):  
Florian Diener ◽  
Miroslav Špaček
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Business Environment ◽  
Current Analysis ◽  
Structural Inequality ◽  
Services Sector ◽  
Financial Services Sector ◽  
Further Development ◽  
Insight Into

The financial services sector, particularly with respect to today’s banking industry, is aiming to make a digital transition. Sustainable reporting is a holistic new reporting approach in banking and has only become partially mandatory for the sector. Thus, this paper makes a contribution to the current analysis approach and further development of the German Sustainability Code as well as associated legal approaches. It concerns the assessment of mandatory sustainable reporting in the light of constantly changing market conditions and stricter legal requirements for stakeholder data responsibility. In specific, it focuses on a digital evolving business environment and is intended to provide an insight into the perception of the topic of digitalization in the banking sector. The assessment is based on the structure of the German Sustainability Code. Based on 113 bank reports, a multiple regression analysis of 1410 codings of the keyword ‘digital’ is carried out. The results show that banks partly and not fully address digital issues in their reporting. It transpires that the emphasis is on seven criteria, while social elements are totally ignored. The paper shows a structural inequality within sustainable bank reporting with regard to digitalization. It also shows that issues are not adequately addressed and covered in legal reporting standards and that the provision of information to stakeholders on specific issues is largely undefined.

Association between performance measurement systems and organisational effectiveness

2014 ◽  
Vol 34 (7) ◽  
pp. 853-875 ◽  
Author(s):  
Bedanand Upadhaya ◽  
Rahat Munir ◽  
Yvette Blount
Keyword(s):  
Performance Measurement ◽  
Performance Measures ◽  
Financial Services ◽  
Content Type ◽  
Services Sector ◽  
Measurement Systems ◽  
Organisational Effectiveness ◽  
Financial Services Sector ◽  
Performance Measurement Systems

Purpose – The purpose of this paper is to investigate the role of performance measurement systems in organisational effectiveness in the context of the financial services sector within a developing country. Design/methodology/approach – Using the mail survey method data were collected from 69 financial institutions operating in Nepal. Multivariate analysis, in particular multiple regression analysis was employed to test the hypotheses. Findings – The results suggest that non-financial measures and feedback are tightly intertwined with organisational effectiveness. While institutions are focused on using the performance measures concerning internal business process perspective, less emphasis is placed on using customer and employee-related performance measures because they are considered less significant to organisational effectiveness. The findings also reveal that strategy-related feedback is considered more critical by management, as opposed to performance and staff. The study also provides evidence that 40.58 per cent of the financial institutions in Nepal had implemented the Balanced Scorecard, which is considered to be high when compared with other developing countries. Practical implications – The findings provide managers with valuable insights pertaining to the role of non-financial performance measures and the importance of feedback in improving organisational effectiveness, which could assist them in (re) aligning their performance measurement practices. Originality/value – The findings of this study contributes to the limited management accounting literature on performance measurement and the impact on organisational effectiveness by providing evidence from the financial services sector within the context of a developing country.

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