The activities in this pathway provide an introduction to the Financial Conduct Authority (FCA), the main regulator for financial services and claims management companies in the UK. The pathway begins by explaining what regulated firms are, and how the FCA regulates them. The FCAs objectives and its Handbook are introduced and we examine the powers the FCA has been granted. We end the pathway by outlining the regulatory bodies the FCA has a relationship with and how its approach to supervising firms works in practice. Audience This course is suitable for all staff working in banking, lending, insurance, financial services, investments or claims management companies and requires no previous regulatory knowledge or experience.
This course is suitable for all audiences.
When you have completed all of the activities in this pathway, you should be able to:
- describe the importance of what the FCA does.
- explain dual regulation, what an authorised firm is and what some typical regulated activities are. You will also be able to explain what a principles-based approached is, as well as having an understanding of the FCAs Handbook.
- outline the FCAs objectives and have an understanding of how the FCAs powers help them achieve these objectives. You will also have a general understanding of an area of the FCA Handbook </p><p>- approved persons and controlled functions, together with the Senior Managers and Certification Regime.
- explain the relationship the FCA has with other regulatory bodies, such as the FOS and FSCS and understand the protection they provide for consumers.
- describe how the FCA works in practice and understand how the FCA categorises and supervises firms.
