UK Regulation & Professional Integrity (Investment Advice Diploma) Quiz 09

Last Updated: June 2024

Table of Contents

UK Regulation & Professional Integrity (Investment Advice Diploma)
Element 5 The Regulatory Infrastructure of UK Financial Services
On completion, the candidate will be able to:
5.1 understand the wider structure of UK financial regulation including
the responsibilities of the main regulators and bodies and the
relationship between them:
5.1.1 Financial Services Regulators: The Financial Conduct Authority
(FCA) and the Prudential Regulation Authority (PRA)
5.1.2 Other regulators and relevant bodies:
• HM Revenue & Customs (HMRC)
• The Financial Ombudsman Scheme (FOS)
• The Financial Services Compensation Scheme (FSCS)
• The Financial Policy Committee (FPC)
• The Upper Tribunal (Tax and Chancery)
• The Bank of England (BoE)
• HM Treasury (HMT)
• The Competition and Markets Authority (CMA)
• The Information Commissioner’s Office (ICO)
• The Pensions Regulator (TPR)
• The Pension Ombudsman (TPO)
5.2 FCA and PRA Regulatory Principles, Statutory Objectives, Structure,
Powers and Activities
5.2.1 understand the strategic and operational objectives, structure,
powers and activities of the FCA
5.2.2 understand the strategic and operational objectives, structure,
powers and activities of the PRA
5.2.3 understand the FCA’s Principles for Businesses and the PRA’s
Fundamental Rules
5.2.4 understand the FCA’s competition responsibilities
UK Regulation and Professional Integrity
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5.3 understand the scope of authorisation and regulation of the FCA and
the PRA:
5.3.1 Regulation of UK Financial Markets, Exchanges and Trading Venues
Recognition of Overseas Exchanges, Investment Exchanges and
Clearing Houses
UK Listing of Financial Instruments
Authorisation of Firms, and Collective Investment Schemes
5.3.2 Principles, rules, guidance and rule-making powers
Supervision, investigations and enforcement
5.4 Support for Regulatory Framework
5.4.1 understand key internal and external mechanisms within firms that
support the regulatory framework
5.5 International Regulations
5.5.1 understand how the UK Financial Services is impacted by
overseas:
• Directives
• Regulations
• Law
• Guidance
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