FCA Compliance

This course covers two areas, firstly the concept of Treating Customers Fairly, and its 6 consumer outcomes, and secondly, the Financial Sanctions that can be imposed in the UK.

The Financial Conduct Authority, FCA for short, regulates and oversees the conduct of UK financial services companies and markets. The UK financial sector plays a key role not only in the economy but throughout wider society as a whole.

As such, its effectiveness and integrity impacts the entire population. One FCA objective cuts through the, sometimes overwhelming, complexities of the financial sector – it acknowledges that a new rule cannot be made for every financial eventuality, and it sets out its stall in three simple words… Treating Customers Fairly. The first part of this course is designed to highlight the importance of TCF.

The second part of the course is about UK financial sanctions. Somewhere in the world innocent men, women and children find themselves languishing in prison. Elsewhere, terrorist acts are being executed or planned by individuals, organisations, or rogue states. Such acts need finance, a fact that has brought about a regime of UK financial sanctions.

UK financial sanctions save lives by starving terrorists and others of funds and resources. To breach these sanctions is to put yourself or your company at risk of criminal prosecution. It’s tempting to think financial sanctions only concern banks which handle client funds, but that is far from the case.

These sanctions seek to deny: insurance, financial advice, investment opportunities, or any banking relationship that makes life easier for terrorists. Think it’s someone else’s problem? Think again – financial sanctions are currently imposed against a number of UKbased individuals and organisations. The information in this course is designed to make sure you don’t inadvertently aid them.

Modules:

• The Treating Customers Fairly (TCF) initiative aims to deliver six improved outcomes for retail consumers – and you have a big part to play, this course covers all areas that help you implement this initiative.
• The UK Financial Sanctions module covers the follwoing areas;
  • UK Financial Sanctions - Trailer
  • Why do UK Financial Sanctions Exist
  • Who is involved in making and implementing sanctions
  • The Different types of Sanctions
  • Terminology
  • What you must do - good practice advice
  • UK Financial Sanctions - Final Summary