Online course description: Financial Services Environment and Regulation

Course introduction
This online course will enable you to understand the key subject areas in relation to financial services environment and regulation.

The learning outcomes are appropriate both for someone studying for the CII CF1 exam on Financial Services Environment and Regulation or for professionals looking to brush up on their knowledge.

Course material
The course material consists of:

• 12 chapters of study notes containing several examples
• Revision assessments for each section to help confirm your understanding.
• Glossary of key terms

We have developed demonstrations for our online courses that show you the content topics and our easy to use course navigation system. If you decide to purchase you will of course see the full version with the full contents all fully formatted and you will be able to access the chapter & final assessments.

Case study & final assessments
In addition, on completion of the course, you will have the opportunity to complete:

• A 100 question final revision assessment
• A case study incorporating 20 multiple choice questions
• A final 20 question assessment based on the study material. Your assessment results and answers to any questions answered incorrectly will be emailed to you. If you don’t pass, or just want to take a second test, an additional 20 question assessment can be taken.

Additional information
Access is provided for 6 months and includes syllabus updates. If you purchase 3 products your receive 12 months access plus syllabus updates PLUS you qualify for a large discount.

CPD credit
You will be credited with a total of 11 hours of CPD with the time added to your certificate on the completion of each assessment. Your CPD hours and results will be added to your CPD certificate which can be viewed and printed from the CPD certificate link on the menu at any time.


Learning outcomes:
1. To understand the fundamental purpose of and participants within the financial services industry
2. To understand the following asset classes, their main features and suitability for certain circumstances: 

• Cash deposits
• Government securities and corporate bonds
• Equities
• Property.

3. To understand the following product types, their main features and suitability for certain circumstances:

• OEICs and unit trusts
• Investment trusts
• Individual Savings Accounts (ISAs)
• Offshore funds
• Onshore and offshore life assurance company products
• Derivatives
• Mortgage loans.

4. To understand the main areas of financial advice
5. To understand the advice process
6. To understand legal issues and their relevance to providing financial advice
7. To understand the basics of the UK taxation and social security system
8. To understand certain key economic factors that have an impact on financial planning
9. To understand the main aims and activities of the FSA
10. To understand the FSA’s approach to regulation
11. To understand the effect of the control structures of firms and how these relate to the FSA
12. Understand the FSA’s Conduct of Business rules and their application to private and professional clients
13. Understand the effect of the Anti Money Laundering rules and regulations on providing financial advice
14. Understand the rules for complaints and compensation
15. Understand the basics of the access to Medical Reports Act 1988, Access to health records Act 1990 and the Data Protection Act 1998 and their affect on the provision of financial advice and recommendations
16. Understand the relevance of some other non tax laws on the provision of providing financial advice and recommendations.

Full course content:

Chapter 1 The Structure of the UK financial services environment
The economic environment
Inflation
The financial services industry
Financial institutions and markets in the UK

Chapter 2 Asset classes
Cash
Fixed interest securities
Equities
Property

Chapter 3 – Financial services products
Collective investments
Derivatives
Mortgages

Chapter 4 – Main Areas of Financial Advice
Budgeting
Protection
Borrowing
Savings and investments
Retirement planning
Estate planning
Tax planning

Chapter 5 – Process of providing financial advice
Advice process

Chapter 6 – Legal environment
Legal identity
Law of contract and capacity
Law of agency
Law of succession and trusts
Ownership of property
Powers of attorney
Bankruptcy and insolvency

Chapter 7 – Taxation
Liability to UK tax
Income tax
Capital gains tax
Stamp duty land tax and stamp duty/stamp duty reserve tax
Inheritance tax

Chapter 8 – National Insurance and Social Security Benefits
National Insurance
Social Security

Chapter 9 – The Financial Services Authority’s (FSA) approach to regulation
Financial Services and Markets Act 2000
FSA objectives
FSA scope and powers
FSA principles for business
Treating Customers Fairly
Arrangements, systems and controls for approved persons
Authorised firms
Types of adviser
Capital requirements
FSA approach to supervision
FSA approach to discipline and enforcement

Chapter 10 – FSA rules of firms’ control structures
Advertising and promotion
Reporting and record keeping
Training and competence

Chapter 11 – FSA Conduct of Business Rules
Purpose of COBS rules and types of customer
Client agreements
Status of advisers and status disclosure
Advice and know your customer
Suitability of advice
Charges, commission and disclosure
Cooling off and cancellation
Dealing and managing
General Insurance
Mortgages

Chapter 12 Other Regulation
Anti Money Laundering regulation
Complaints and compensation
Access to medical reports Act 1988 and Access to Health records Act 1990
Data Protection Act 1998
Office of Fair Trading
Consumer Credit Acts
Pensions Regulator
Employment Equality (Age) Regulations 2006

Chapter 13 Glossary