15 Financial regulations and accounting standards

Overview of laws and regulations governing financial practices.

Securities and Exchange Commission (SEC) – the U.S. government agency responsible for regulating the securities industry.

Financial Accounting Standards Board (FASB) – the U.S. organization that establishes financial accounting and reporting standards in the US.

Financial Reporting Council (FRC) – the organization that and maintains the UK version of Generally Accepted Accounting Practice.

International Accounting Standards Board (IASB) – organization that develops International Financial Reporting Standards (IFRS).

Basel III – global regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.

Dodd-Frank Act – U.S. federal law that places regulation of the financial industry in the hands of the government.

Anti-Money Laundering (AML) – set of procedures to prevent criminals from disguising illegally obtained funds as legitimate income.

General Data Protection Regulation (GDPR) – EU regulation on data protection and privacy.

Financial Industry Regulatory Authority (FINRA) – private corporation that acts as a self-regulatory organization in the U.S.