What Is a Financial Power Of Attorney? A financial power of attorney (POA) is a legal document that grants a trusted agent the authority to act on behalf of the principal-agent in financial matters. The former is also referred to as the attorney-in-fact while the principal-agent is the person who grants the authority. This kind
What Is a Financial Quota Share? A financial quota share is a reinsurance treaty in which the ceding company is responsible for a portion of the loss associated with a claim. Key Takeaways A financial quota share is a reinsurance treaty in which the ceding company is responsible for a portion of the loss associated with a
What Is Financial Repression? Financial repression is a term that describes measures by which governments channel funds from the private sector to themselves as a form of debt reduction. The overall policy actions result in the government being able to borrow at extremely low interest rates, obtaining low-cost funding for government expenditures. This action also
What Is Financial Responsibility Law? Financial responsibility law, commonly associated with vehicles, are statutes that require an individual or business to prove that they can pay for damages resulting from an accident. Financial responsibility law does not specifically require the party to have insurance coverage. Instead, the law requires that they be able to demonstrate
What Is Financial Risk? Financial risk is the possibility of losing money on an investment or business venture. Some more common and distinct financial risks include credit risk, liquidity risk, and operational risk. Financial risk is a type of danger that can result in the loss of capital to interested parties. For governments, this can
What Is the Financial Services Modernization Act of 1999? The Financial Services Modernization Act of 1999 is a law that serves to partially deregulate the financial industry. The law allows companies working in the financial sector to integrate their operations, invest in each other’s businesses, and consolidate. This includes businesses such as insurance companies, brokerage firms
What is Financial Services Agency? Financial Services Agency, or FSA, is a Japanese government entity responsible for overseeing banking, insurance, and securities and exchange. The role of the Financial Services Agency is to ensure the stability of Japan’s financial system; the protection of depositors, insurance policyholders, and securities investors. It is in charge of the
What Is the Financial Services Authority (FSA)? The Financial Services Authority (FSA) was the agency that regulated financial services in the United Kingdom between 2001 and 2013. The regulatory authority was formally divided in 2013 into the Financial Conduct Authority and the Prudential Regulation Authority of the Bank of England. Key Takeaways The Financial Services
What Is the Financial Services Roundtable? The Financial Services Roundtable (FSR) represented around 100 of the largest integrated financial services companies that provide banking, insurance, and investment products/services to American consumers. In 2018, the Financial Services Roundtable merged with the Clearinghouse Association, another financial lobbying organization. Key Takeaways Until 2018, the Financial Services Roundtable, a
What Are Financial Shenanigans? Financial shenanigans are actions designed to misrepresent the true financial performance or financial position of a company or entity. Financial shenanigans can range from relatively minor infractions involving merely a loose interpretation of accounting rules to outright fraud perpetuated over many years. Financial shenanigans may also include taking independent fraudulent actions, creating fraudulent
