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Regulating firms and individuals (Regulated Investments (Deposits,…
Regulating firms and individuals
Regulated Activities
Accepting deposits
Insurance
Effecting/Carrying out Contracts
Advising/arranging
Investments
Dealing/arranging
Managing
Collective schemes
Advising
Entering a consumer credit agreement
Mortgages
Lending/adminisration
Advising/arranging
Stakeholder pensions
Debt collecting
Regulated Investments
Deposits
Electronic money
Insurance contracts
Shares, company loan stocks and debentures and warrants
Gilt-edged stocks and local authority stocks
Units in collective investment schemes
Rights under stakeholder pension schemes
Options and futures
Mortgage contracts
Senior Managers Regime
FCA and PRA regulated functions
Chief executive
Chief finance
Executive director
Chief risk
Head of internal audit
Head of key business area
Group entity senior management
Credit union
Chairman
Chair of risk
Chair of risk committee
Chair of the audit committee
Chair of the remuneration committee
Senior independent director
Compliance oversight
Money laundering reporting
Other overall responsibility
Certification Regime
'Significant harm roles'
FCA Certification Regime
Material risk takers
Significant influence
Investment/mortgage advisers
Supervises or mangers of certified person
PRA Certification Regime
Material risk takers
Not FCA approval required
Fit and Proper test
Code of Conduct
Senior Managers
SM1 Controlled effectively
SM2 Complies regulatory requirements/standards
SM3 Delegation to appropriate person
SM4 Disclose appropriate information
Persons covered by SM
Integrity
Due skill, care and diligence
Open/cooperative FCA/PRA
FCA Regime
Interest customer/treat fairly
Proper standards of market conduct
Firms
Keep Individuals aware
Provide training
Maintain rules
Fit and Proper Test
Honest, integrity and reputation
Criminal record
Disciplinary proceedings
Contravened regulations
Complaints
Insolvency
Dismissal
Competence/Capability
Training/Competence requirements
Financial Soundness
Qualifications
Training
Competence
Personal characteristics
FCA Supervision
Ten principles for supervision
Categorisation levels
Fixed portfolio
Highest level of supervision
Flexible portfolio
Supervision model
Three pillars
Proactive firm/group supervision
Event-driven, reactive supervision
Issues and products
Training and Competence
Training
Access, Supply, Evaluate
Competence
Investment Advisers
Adequate knowledge and skill
RQF level 4
Individuals
Relevant qualifications
Act competently
Maintaining Competence
Investment adviser
35 hours CPD in 12 months
Structured CPD minimum 21 hours
Unstructured CPD