Foundation in FCA Regulation
This focused, one day course will provide a clear and easily digestible overview of the new FCA regulatory framework (touching also on the role of the PRA) and highlight the key requirements for firms and individuals. The emphasis will be on the practical implications of the regulations in the day to day business environment. Attending this course will help you:
- Understand the scope, powers and priorities of the FCA and PRA and what this means in practice
- Recognise the regulatory obligations on individuals and organisations under both principles and rules
- Explore the scope and application of core elements of the FCA Handbook
- Review the FCA’s approach to discipline and enforcement, learning lessons from recent examples
- Examine the key rules and expectations relating to how you deal with customers - conduct risk
- Identify current regulatory themes and developments and how they may affect you and your firm
- Improve your knowledge of and ability to manage regulatory risks in your business
Suitability - Who should attend?
This introductory course in FCA Regulations is aimed at anyone wanting to get to grips with the FCA Regulations, and particularly those in the following positions:
• Are new to the Compliance function
• Have recently joined the financial services industry and need to understand how regulation works
• Are moving to a role requiring greater regulatory knowledge
• Are in a Risk management function and need to assess the risks associated with regulation
• Have become an Approved Person and want to understand the bigger compliance picture.
Outcome / Qualification etc.
Attendance at this training event can provide delegates with 6 CPD training hours to count towards their continuous professional development needs.
Training Course Content
This Foundation in FCA Regulation is designed to cover the following units:
Introduction and review of developments in regulation
- How “Twin Peaks” is developing
- Context and direction of UK regulation
- Current and emerging themes and priorities
- "Intensive and intrusive, judgemental regulation" and credible deterrence
Duties, powers, objectives and accountability of the FCA and PRA
- Responsibilities of the FCA
- FCA and PRA statutory objectives
- Competition role
- Enforcement, regarding promotions and product intervention
Discipline, enforcement and credible deterrence
- Role of the Regulatory Decisions Committee
- Warning and decision notices
- Role of the Financial Services Tribunal
- Options available to firms when facing disciplinary action
- FCA approach to discipline and enforcement
The FCA Handbook
- An insight into the structure and content of the FCA Handbook, its development and application
High level requirements, including SYSC and Approved Persons
- Overarching requirements of regulated firms and key individuals
Culture and TCF
- Regulatory expectations of a firm's culture and treatment of customers
Complaints and compensation arrangements
- Requirement for complaints procedures
- Financial Ombudsman Service
- Financial Services Compensation Scheme
- How the FCA supervises
- The Firm Systematic Framework
- Authorisations Permissions
Risk control and current regulatory hot topics
- The FCA’s expectations
- Product Development
- Incentives and Remuneration
Training & Competence
- Importance of training and competence and what makes firms properly trained and supervised
- The FCA's conduct risk agenda
- Conduct Risk and Conduct of Business
- Key risks and pitfalls to avoid
- Overview of statutory obligations and appropriate controls
Summary and how to succeed
- Key steps to ensuring ongoing compliance
Course delivery details
This course will be delivered via a real time slide sharing and live audio visual platform, accessible by desktop computer, laptop, tablet or smartphone. Delegate numbers will be limited to ensure a high quality learning environment.
In-house / Company-specific training
CTP can also adapt and deliver this course in-house, to meet the training requirements of your staff.
Corporate Training Partnerships - CTP: Regulatory, Risk Management and Technical Training for Financial Services Organisations
CTP are a specialist training company serving the financial services sector since 2002. Our clients include both dual (FCA and PRA) regulated and solo (FCA) regulated firms. Fully independent with no consulting or technology arms or products, no third party...
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