Being regulated by the FCA
The original aim of the Financial Conduct Authority (FCA) when it was established was to create a more robust regulatory regime that protects consumers while encouraging innovative businesses that meet its regulatory standards.
The statutory objectives, given to the FCA by Parliament, are the foundation for the FCA approach to regulating firms and, in its engagement with those firms, the FCA seeks to ensure that the fair treatment of consumers is at the heart of the business and that the activities of the business do not adversely affect market integrity and competition. In order to achieve its original aim, and to meet its objectives, the FCA continually engages with firms, which takes place through four main activities; creating rules that firms must follow (through FCA Policy work) considering whether firms should be authorised by the FCA under Part 4A of the Financial Services and Markets Act 2000 (FSMA) with specific permissions for particular activities (led by the FCA Authorisations Division) ongoing supervision of regulated firms’ activities (led by the FCA Supervision Division) the use of enforcement powers in instances where egregious misconduct has been identified (led by the FCA Enforcement Division). This introductory course is intended as a practical guide for firms who carry out, or wish to carry out, consumer credit related activities and provides an informative overview of the FCA statutory objectives and the four main regulatory activities of the FCA. This course would provide benefit in a firms ongoing systematic human resource development program including induction training of newly appointed staff.
the TCF regime
the six published expected consumer outcomes
Management Information (MI).
To provide attendees with a practical understanding of:
The FCA’s TCF regime and regulatory expectations
firm culture, including leadership
how to achieve and demonstrate (by MI) good customer outcomes
the Principles for Businesses (PRIN) and the relevance of the FCA’s Senior Management Arrangements, Systems and Controls sourcebook (SYSC).
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Course Title: Being regulated by the FCA