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.

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

Latest Course Update

Course redesigned with a more modern feel
Full review conducted by an FCA expert
Text & image updates throughout the course

Course outline

Welcome

UK financial services: The regulatory framework

- UK financial services: The regulatory architecture
- 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 (SMCR)
- 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

Consumer Duty

- Operational objectives
- Embedding the right culture
- Consumer Duty (the Duty)
- The Four Outcomes
- Consumer Duty does not mean
- You make the call: Consumer Duty
- 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

Course Specifications

Structure

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

Audience

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

Design

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

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.