= (SIB)

A regulatory body set up to oversee UK financial markets. Its aim is to prevent fraud and insider trading. The SIB works via the system of each financial sector, for example, the stock exchange, having a Self-Regulating Organization (SRO) which reports to the SIB. The SIB is empowered to recognize investment institutions, and to finance itself by fees charged for recognition. SIB members are appointed by the Governor of the Bank of England and the Secretary of State for Trade and Industry. They are drawn from leading City institutions: this has the advantage that they are likely to be able to understand the activities they have to regulate, but the disadvantage that they may feel more concern about the welfare of the financial sector than that of the general public. The SIB does not have control over mergers, which are dealt with by the Takeover Panel.

See also:

self-regulation

• public procurement
• public sector
• Public Sector Borrowing Requirement
• public sector debt
• Public Sector Debt Repayment
• public spending
• public utility
• public works
• pump priming
• punishment strategy
• purchase tax
• purchasing power
• purchasing power parity
• pure floating exchange rate
• put option
• pyramid scheme
• q, Tobin's
• quadrant
• quadratic
• qualification of accounts
• quality control
• quality ladder
• quality standards
• quango
• quantity and price adjustment