Abstract
Building societies are mutual financial institutions, owned by their members. They are also known as stakeholder-based financial institutions, and together with co-operatives and saving banks, form an important share of the financial sector in many countries. This chapter reviews the legal and regulatory framework with respect to building societies’ permissible activities and discusses recent developments. In addition, we consider the strengths and weaknesses of the building society model, with a particular focus on capital and governance.
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Notes
- 1.
That Act has subsequently been revised by the Building Societies Act 1997, by the Financial Services and Markets Act 2000 and by the Financial Services Act 2012.
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Casu, B., Gall, A. (2016). Legislation, Regulation, and Governance of Building Societies. In: Building Societies in the Financial Services Industry. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-60208-4_3
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DOI: https://doi.org/10.1057/978-1-137-60208-4_3
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Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-137-60207-7
Online ISBN: 978-1-137-60208-4
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