Across
- 5. professional who can only recommend certain types of product from one or a limited number of providers.
- 6. A mutual organisation that offers its members a wide range of financial products, which can include savings, investments, insurance, pensions.
- 7. Banks that raise funds on the financial markets, rather than accepting deposits as a retail bank does.
- 9. The process of selling off parts of a company to make it smaller.
- 12. Banks that deal directly with consumers, eg providing current accounts and mortgages.
- 13. The government department responsible for development and implementation of financial and economic policy.
- 14. An independent body set up by Parliament that settles customer complaints about providers at no charge to consumers.
- 15. The body responsible for strengthening business competition and preventing and reducing anti-competitive activities.
- 16. Separating the deposit-taking part of a bank from the rest of its business.
- 17. A compensation scheme that pays compensation to account holders of up to a certain amount per provider if the provider goes into default.
Down
- 1. An insurance marketplace where members employ underwriters to come together and accept insurance risk, dividing it out between the members.
- 2. The Bank of England committee responsible for keeping inflation under control by the manipulation of interest rates.
- 3. One of the two main regulators of financial services in the UK.
- 4. A professional who makes financial recommendations to clients, based on products offered by a wide range of providers.
- 8. A market dominated by a few large firms, eg the financial services sector.
- 10. A mutual organisation , owned by its members. Members must share a common bond.
- 11. Online firms that provide instant, very short-term, unsecured cash advances at a high rate of interest.