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The FCA aims and activities (FCA (Principles for Businesses (Integrity,…
The FCA aims and activities
The UK Regulatory Structure
Bank of England
Financial Policy Committee
Direction and Recommendation
PRA
Prudential Regulation
Deposit takers/insurers and investment firms
FCA
Conduct Regulation
Deposit takers/insurers and investment firms
Prudential/Conduct Regulation
Prudential regulation
FCA
Operational Objectives of the FCA
Protect consumers
Protect financial markets
Promote effective competition
FCA Powers
Competition
Product intervention
Disclosure
Take formal action
FCA Handbook
High-Level Standards
Threshold conditions
Statements of Principle and Code of Practice
‘Fit and proper’ test for approved persons
Senior management arrangements, systems and controls
Principles for Businesses
Financial stability and market confidence sourcebook
General provisions
Fees manual
Training and competence
Business standards
Conduct of Business sourcebooks
Conduct of Business Sourcebook (COBS)
Banking: Conduct of Business Sourcebook (BCOBS);
Insurance: Conduct of Business Sourcebook (ICOBS)
Mortgages and Home Finance: Conduct of Business sourcebook (MCOB)
Market Conduct sourcebook
Investments
Client Assets sourcebook
Specialist sourcebooks
credit unions, professional firms, collective investments (COLL)
consumer credit (CONC)
Regulatory processes
Authorisation guidance
Redress
Complaints and the provision of compensation
Principles for Businesses
Integrity
Skill, care and diligence
Management and control
Financial prudence
Market conduct
Customers’ interests
Communications with clients
Conflicts of interest
Customers: relationships of trust
Clients’ assets
Regulations
Fair Treatment of Customers
Committed to fair treatment of customers
Products designed to meets needs of customer groups
Clear information at all stages, before, during, after sale
Suitable advice taking account of circumstances
Products perform as customers expect
No barriers to switching products/provider, making claim, or complaining