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

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


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?


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




Course Specifications



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



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



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



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.



Fully customisable on Skillcast Portal CMS.



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



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

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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