FSA Annual Report 2006/07 - Better Regulation Ltd

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Section six – Appendices
Appendix 1
Notes to the table
Note 1
Compliance monitoring of
designated clearing and settlement
systems is in accordance with the
Clearing and Settlement Systems
Ordinance.
Note 2
The total ‘Equity Market
Capitalisation’ Figure of $17.7
trillion (£9tr) was provided by
the SEC.
Note 3
According to section 7 of the
Banking Act (5 January 2007),
BaFin closely cooperates with the
Deutsche Bundesbank in carrying
out the supervision of banks and
investment firms in Germany. The
costs of the Deutsche Bundesbank in
the area of supervision cannot be
clearly attributed because of the dual
function of the Banking and
Financial Supervision Department,
which has mainly banking
supervisory functions, but is also
involved in monetary policy issues.
Note 4
The figure reported for the IFSRA
comprises direct costs (pay and nonpay)
of supervision (prudential,
consumer and support departments)
together with a partial allocation of
costs for shared services (IT, HR,
Corporate Services etc).
Note 5
Related to staff directly involved in
regulation. Also includes e0.2m
worth of costs not falling into the
above categories, classified as ‘Other’
by the IFSRA. Does not include
indirect staff involved in provision of
shared services. Comprises direct costs
(pay and non-pay) of supervision
(prudential, consumer and support
departments) together with allocation
of costs for shared services (IT, HR,
Corporate Services etc).
Note 6
NFA figures provided are for the
NFA’s Fiscal Year 2007: 1 July 2006
to 30 June 2007. Thus, they are
projected costs. The figure of
$36,100,000 excludes projected
capital spending of $1,000,000; it
does include non-cash admin
expenses (i.e. depreciation expense)
of $1,800,000.
Note 7
This activity is the responsibility of
the Singapore Exchange (SGX).
Note 8
SGX’s cost for the period January
2006 to December 2006. Out of
which S$3.8 million relates to SGX's
approval of listing.
Note 9
The Total Equity Market
Capitalisation figures provided by
MAS in 2005/06 were shown
incorrectly in the FSA 2005/06
Annual Report. The figure was
presented as £355bn. The correct
figure should have read £187bn.
Note 10
Source: FDIC Quarterly Banking
Profile – Table III-A Full Year 2006,
All FDIC – Insured institutions.
Note 11
Figures provided by MAS relate to
the period, 1 April 2005 to 31 March
2006 and include allocated costs
from central banking and support
functions such as HR, Finance, IT,
Internal Audit, etc as well as imputed
rental and depreciation.
Note 12
Includes the costs of supervision of
market conduct of securities firms
and fund management firms, costs
of regulation of prospectuses and
collective investment schemes, and
costs of the market surveillance,
investigation and enforcement
function.
Note 13
The March 2006 market
capitalisation figure is not directly
comparable with previous years'
figures as there has been a change in
Singapore Exchange Securities
Trading Limited's methodology for
computation of market capitalisation
since May 2005. For more
information, please refer to SGX's
website www.sgx.com.