✓ Correct answer: A. Prudential Regulation AuthorityThe Prudential Regulation Authority, housed within the Bank of England, supervises banks, insurers, and significant investment firms to ensure their safety and soundness.
Why the other options are incorrect:
• Monetary Policy Committee: The MPC's mandate is interest rate-setting, not the oversight of individual firms.
• Financial Ombudsman Service: The Financial Ombudsman Service resolves disputes between consumers and financial firms and does not supervise firms.
• Competition and Markets Authority: The CMA enforces competition rules across industries rather than conducting prudential supervision.
• Pension Ombudsman: The Pension Ombudsman deals with pension-related grievances, not the supervision of banks.
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Theory