FCA Compliance

FCA regulations are a critical requirement when pursuing a career in the financial market.

The FCA is the regulatory body that oversees and protects the integrity of the financial markets within the UK.

Each different field of finance requires different types of regulatory standards.

Organisations giving money advice must hold Financial Conduct Authority (FCA) permissions, without the relevant permissions it is illegal to offer investment or financial advice.

Depending on your career direction and goal the required compliance certification will vary according to the nature of the job activities. Please note that, depending on the activities carried out by your organisation, different permissions might be required.

Further information on FCA regulated activities and career course materials can be found on the career guidance page. Deposit-taking firms (including banks and building societies), the investment banks and insurance firms are regulated by the FCA.

The FCA’s brief extends to market conduct and consumer protection matters which relate to the activities of all financial firms.

As a consequence, PRA-regulated firms are also regulated and supervised by the FCA.

Regulation is a crucial aspect of professional development within the financial markets and enables advisors and investment managers to progress at a much faster pace within the industry especially as recent graduates or career changers.

Once a firm is permitted to conduct business in regulated activities, it is assigned to a supervisory team (or teams, if the firm is dual-regulated by both the PRA and the FCA).

These teams will typically comprise specialists in the firm’s financial sector (Investment banking, building society, insurance, etc.).

This supervision will include checking that the firm adheres to the terms of its ‘permissions’ (the authorisations it has to conduct different types of financial services business) and will seek to ensure that the firm is managing its business and financial risks effectively.