This eLearning course provides a comprehensive overview of the Financial Conduct Authority (FCA), the UK's principal financial services regulator. The course is designed for anyone working in or with the financial services sector who needs to understand the FCA's role, objectives, and approach to regulation, and the obligations it places on regulated firms and individuals.
The course begins by explaining the FCA's statutory objectives: protecting consumers, protecting and enhancing the integrity of the UK financial system, and promoting effective competition in the interests of consumers. It covers how these objectives are pursued through the FCA's regulatory framework, including its approach to authorisation, supervision, and enforcement. The training explains the FCA's risk-based approach to supervision and its focus on the outcomes that firms deliver for consumers and markets.
The training provides an overview of the FCA Handbook, including the key sourcebooks that firms must comply with, such as the Principles for Businesses, the Senior Managers and Certification Regime (SM&CR), and the Conduct of Business Sourcebook (COBS). It explains the FCA's expectations around governance and culture, including the importance of senior management accountability and the requirement for firms to have appropriate systems and controls.
The course also covers the FCA's enforcement powers, including the circumstances in which the FCA may take action against firms and individuals, the types of sanctions available, and the process for regulatory investigations. Upon completion, learners will have a solid understanding of the FCA's role and their obligations as regulated persons, providing a foundation for further compliance training.
