Prudential Regulation Course

Prudential Regulation applies to firms in financial services. Prudence is vital to the ethical and moral framework surrounding healthy financial systems. In finance, imprudence can bring economies to the point of collapse.

Prudence refers to taking care when making decisions or spending money to avoid unnecessary risks. In accounting, prudence means not overstating assets and profits or understating losses in a company's accounts.

Our Prudential Regulation Training Course explains the prudential standards for financial services firms in the UK.

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Prudential Regulation

About this Course

Available as part of our FCA Compliance Library.

Learning Objectives

This course will prepare your employees to:

  • Understand the meaning of 'prudence' and 'prudential'
  • Recognise the importance of prudential regulation in financial services
  • Understand the regulatory framework that underpins prudential regulation in the UK
  • Be familiar with the location and structure of the UK's prudential regulations covering financial services

Course outline

Welcome

What is prudence?

- Example: Prudence at a personal level
- Example: Prudence in a commercial organisation
- You make the call: Is it prudent?

The nature of financial services

- Prudence in banking
- Prudence in commercial financing
- Prudence in mortgages
- Prudence in insurance
- The business of banking
- Risks in the financial services business
- The need for prudence in financial services
- Consequences of imprudence

Prudential regulation of financial services

- A brief history of financial services regulation in the UK
- Prudential Regulation Authority (PRA)
- Financial Conduct Authority (FCA)
- You make the call: Who's your regulator?
- PRA Rulebook
- The FCA Handbook
- Prudential Standards

GENPRU

- Capital resource requirement
- Principles underlying the definition of capital resources
- GENPRU systems & controls

BIPRU

- You make the call: What's a BIPRU firm authorised to do?
- Capital Requirements Directive (CRD)
- Scenario: Pillar 3 Disclosure

IFPRU

- Types of IFPRU firms
- Significant IFPRU firms
- Scenario: SREP & ICAAP

INSPRU

- Solvency II
- Scenario: INSPRU & Solvency II

MIPRU

- Scenario & exercise: MIPRU
- Profession Indemnity Insurance (PII)

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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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.