Online Approved Persons Training
The UK approved persons regime aims to protect consumers and the UK financial system by making sure that individuals who work in certain roles in the financial services industry are of high caliber. To achieve this, the approved persons regime gives the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) the power to approve individuals to perform key functions specified by the regulators (called "controlled functions") within, or linked to, a firm that is authorised to conduct regulated financial service activities in the UK.
The FCA and PRA control the activities and behaviour of approved persons and have authority to discipline those who fail to adhere to the regulators’ high standards of personal conduct and accountability. Among other things, approved persons are expected to demonstrate honesty and integrity, competence and capability, and financial soundness. The Approved Persons training course explains the principles and ethical expectations set forth by the UK approved persons regime, as well as the negative consequences for non-compliance.
The approved persons regime remains applicable to financial services firms that are not covered by the new Senior Managers and Certification Regime (SMCR) that entered into force on 7 March 2016. The UK government, however, intends to extend the SMCR to all sectors of the financial services industry in 2018.
Geography Covered: EMEA | Duration: 30 minutes
This course covers the UK approved persons regime, which provides for approval by the Prudential Regulation Authority (PRA) and/or the Financial Conduct Authority (FCA) of individuals who perform key functions for authorised firms. The course explains the principles and ethical expectations of approved persons as set forth by the law and the regulators’ disciplinary powers.
The available versions for this course include:
Approved Persons (UK and Europe)
The topics covered in the course include:
- Purpose of the regime
- Controlled functions
- Fit and proper test
- Requirements and responsibilities of an 'approved person'
- Disciplinary powers for breaches
- Statements of Principle and Code of Practice
- Impact of new rules on senior management and certification.
Like with all our courses, the Approved Persons training courses are written by attorneys and powered by world-leading regulatory intelligence, which tracks more than 550 regulators and exchanges globally to ensure the course content is always up to date.
We employ instructional design techniques optimized for risk and compliance training, enabling your business to educate in a way that reduces risk and encourages compliant behavior.
Approved Persons training courses are driven by practical examples and interactive scenarios to ensure users truly understand and recognize the issues of most importance to your business and learn to instinctively act to support them.
Request a course trial
The Code of Conduct training course provides basic training on the most important topics most commonly found in nearly every company's Code of Conduct, including conflicts of interest and information security.
The FACTA Red Flags training course helps employees identify "red flags" of identity theft, detect those red flags when they occur, respond appropriately to prevent and mitigate identity theft, and ensure that red flags are updated periodically as needed.