Introduction to UK Financial Regulation

The regulatory framework in the UK applies to the financial services sector. Each body that makes up the framework is responsible for overseeing different UK financial services sector areas.

The regulatory cycle in the UK starts with authorisation to carry out a regulated activity followed by supervision. Civil, criminal, and regulatory powers enforce regulations and protect consumers.

Our Introduction to UK Financial Regulation Course explains how the financial services industry is regulated and how compliance with these regulations is both an individual and collective responsibility.

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Introduction to UK Financial Regulation

About this Course

Available as part of our FCA Compliance Library.

Learning Objectives

This course will prepare your employees to:

  • Identify the two main UK financial regulators and their role
  • Recognise the features of the UK regulatory cycle
  • Identify the FCA's Principles for Businesses and the PRA's Fundamental Rules
  • Distinguish between distinct categories of customers
  • Appreciate the importance of the Treating Customers Fairly principle
  • Recognise our shared responsibilities to combat financial crime and the importance of whistleblowing
  • Identify the key features of the SMCR regime

Course outline

Welcome

UK financial services: The regulatory framework

- You make the call: Who's responsible?
- The UK regulatory cycle
- What do you think: Is it permitted or not?

Principles-based regulation

- FCA's Principles for Business
- PRA's Fundamental Rules
- You make the call: Playing by the rules
- The PRA's Rulebook
- The FCA Handbook

High level standards

- Senior Managers and Certification Regime (SM&CR)
- Exercise: SMCR
- Code of Conduct (COCON) Rules
- You make the call: Code of Conduct (COCON) Rules
- Training & Competence requirements

Business standards

- Common themes
- Client categorisation
- You make the call: What type of client is it?
- Client categorisation & insurance

Treating customers fairly

- Embedding the right culture
- Treating Customers Fairly (TCF)
- TCF does not mean
- You make the call: TCF
- What is Conduct Risk?
- Handling complaints
- You make the call: Complaints handling

Financial crime

- Anti-money laundering
- Fraud
- Market abuse
- Bribery
- Exercise: Bribery
- Competition law
- Anti-competitive practices
- You make the call: Is it allowed or not?

Whistleblowing

- You make the call: Should you blow the whistle or not?

Summary

Affirmation

Assessment

FCA Courses Library

Our FCA Course library of over 60 training modules covers everything from high-level and conduct of business standards to thematic topics, including treating customers fairly.

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FCA Courses Library

Course Specifications

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Structure

Approximately 45-minute long e-learning course followed by a 10-question assessment.

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Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

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Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

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Test-Out

Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment simply bypassing the assessment.

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Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

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Tailoring

Fully customisable on Skillcast Portal CMS.

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Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

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Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.