This online training course on the Financial Conduct Authority (FCA) explores how the FCA regulates conduct, the principles it sets for business, and the standards and processes laid-out in the FCA handbook.
This online training course on FCA regulations is broken down into four main topics.
This online training course on FCA regulations is broken down into four main topics.
The FCA is the UK’s regulator for financial services firms and financial markets. This topic explores the world of financial regulation, the role of the financial services sector which is one of the largest employers and contributors to the UK economy, and the aim of the FCA is to ensure that financial markets operate with integrity and compete fairly, so that consumers and the economy are protected.
Financial services providers, investment firms, consumer credit firms and Independent Financial Advisors (IFAs) must be authorised or registered by the FCA before they can offer regulated activities. This topic covers who are regulated by the FCA and the Prudential Regulation Authority (PRA) and explains how firms are authorised and supervised by the FCA.
The FCA has set out high level standards of conduct that all firms must adhere to in order to be able to meet the main regulatory obligations. This topic explores the 11 principles for business which are fundamental obligations under the regulatory system. This course also looks at the six consumer outcomes based on the FCA’s evaluation of Treating Customers Fairly (TCF).
Under the third principle for business set by the FCA, firms need to ensure that employees are competent to carry out regulated activities. This requires training, supervision, record keeping and management information (MI). This topic looks at the importance of the third principle and the FCA’s training and competence (TC) requirements for employees in relation to the job they perform.
Learners are tested on their knowledge throughout the course with short quizzes. The course concludes with a final assessment test where learners must answer 80% of the questions correctly to pass the course. On successful completion of the course, learners will be able to download a certificate of achievement. Learners can also take the assessment again to improve their score.
| Number of Learners | Cost (per year) | |
|---|---|---|
| 1 - 10 | ||
| 11 - 20 | ||
| 21 - 50 | ||
| 51 - 100 | ||
| 101 - 150 | ||
| 150+ | ||
| Number of Learners | Cost (per year) | |
|---|---|---|
| 50 - 100 | ||
| 101 - 200 | ||
| 201 - 300 | ||
| 301 - 400 | ||
| 401 - 500 | ||
| 501 - 750 | ||
| 751 - 1000 | ||
| 1001 - 2500 | ||
| 2501 - 5000 | ||
| 5000 - 10,000 | ||
| 10,000 + | ||
Included Features
In the past, miss-selling, misconduct, malpractice, and even fraud, has resulted in billions of pounds in fines, compensation, and other penalties for the UK’s financial services industry. These penalties have negatively affected pension plan holders, shareholders, savers, and investors – not to mention the economy at large – and that’s why it’s essential for financial services firms and markets to be regulated. This is the purpose of the Financial Conduct Authority (FCA). Train your employees on the importance of FCA regulations and the consequences of non-compliance.
The Financial Conduct Authority (FCA) is responsible for regulating the conduct of financial services firms and markets. The FCA plays an important role in enforcing integrity, fair competition and protecting consumers. To do this effectively, the FCA regulates firms by supervising them – comparing businesses against a framework of principles and rules that represent a minimum standard of conduct.
According to the FCA, there are 11 Principles for Business which act as fundamental obligations. These include integrity, skill, care and diligence, management and control, financial prudence, market conduct, customers’ interests, communications with clients, conflicts of interest, customer relationship of trust, client assets and relations with regulators.
According to the FCA, any firms offering financial services in the UK must be authorised by them and it is recommended that customers only deal with authorised firms. Details of firms, individuals and other bodies that are or have been regulated by the FCA are published on a public record called the Financial Services Register. The FCA supervises approximately 59,000 financial firms and markets.
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