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FINANCIAL MARKET COURSES

Financial Authorities (UK) - PRA & FCA

This course focuses on the microprudential regulation and supervision of the UK financial services industry. We examine the two microprudential regulators in terms of who they manage, their statutory objectives and the means by which they meet those objectives.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Recognize why the UK Government established both the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA)

    Identify the role played by the PRA in the supervision and regulation of deposit-taking institutions in the UK

    Identify the role played by the FCA in the supervision and regulation of those financial institutions not regulated by the PRA and understand its role as a customer champion

  • COURSE OUTLINE

    Topic 1: UK Financial Regulation

    The Need for Banking Regulation

    Problems with the Tripartite System

    Financial Services Act 2012

    Twin Peaks Approach

    Topic 2: Prudential Regulation Authority (PRA)

    Structure of the PRA

    Objectives of the PRA

    The PRA's Approach

    o Judgment-Based

    o Forward-Looking

    o Focused

    Authorizing Entities

    Special Resolution Regime (SRR)

    Financial Services Compensation Scheme (FSCS)

    International Engagement

    Regulatory Action

    Banking Reform Act

    Individual Accountability Regime (IAR) & Certified Persons

    Topic 3: Financial Conduct Authority (FCA)

    The Need for Improved Conduct Regulation

    Role of the FCA

    Objectives of the FCA

    Prudential Supervision

    Conduct Supervision

    Customer Protection

    Customer Champion

    Enforcement

    Principles of Good Regulation

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    60 Minutes

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