CISI UK Financial Regulation || 100% Accurate Answers.
FCA Objectives correct answers General: markets function well
Operational: consumer protection, integrity, competition
PRA Objective correct answers safety and soundness of PRA-authorized persons
BOE purposes correct answers monetary and financial stability
PRA oversight correct answers banks, deposit-taking firms, insurers, systematically important
investment firms
PRA responsibility correct answers firms hold adequate levels of capital
Financial Planning Committee (FPC) responsibility correct answers reducing risk to financial
system as a whole, works closely with pRA
Financial Services and Markets Act of 2000 correct answers provide stronger protection for
financial services consumers
Financial Services Act of 2012 correct answers introduced the FCA and PRA
FCA supervision approach correct answers proactive, outcomes-focused, risk-based
FCA supervision pillars correct answers 1) proactive (fixed portfolio only)
2) reactive
3) issues and products supervision
Part 9A of FSMA correct answers empowers FCA to make rules that are legally binding on
authorized firms concerning regulated activity + non regulated
Where is fair treatment addressed in the Principles of Business? correct answers Principle 6
TCF correct answers Treating Customers Fairly - initiative of FCA's predecessor
Fundamental Rules correct answers set out by PRA, replaced Principles of Business, lays out
expectations of firms
Proactive Intervention Framework correct answers a supervisory approach adopted by PRA and
not the FCA.
range of sanctions PRA can impose on breaching firms correct answers unlimited fines,
cancelling permission, public censure
Principles for Businesses correct answers general statements of the fundamental obligations of
FCA firms under FSMA 2000
FCA Objectives correct answers General: markets function well
Operational: consumer protection, integrity, competition
PRA Objective correct answers safety and soundness of PRA-authorized persons
BOE purposes correct answers monetary and financial stability
PRA oversight correct answers banks, deposit-taking firms, insurers, systematically important
investment firms
PRA responsibility correct answers firms hold adequate levels of capital
Financial Planning Committee (FPC) responsibility correct answers reducing risk to financial
system as a whole, works closely with pRA
Financial Services and Markets Act of 2000 correct answers provide stronger protection for
financial services consumers
Financial Services Act of 2012 correct answers introduced the FCA and PRA
FCA supervision approach correct answers proactive, outcomes-focused, risk-based
FCA supervision pillars correct answers 1) proactive (fixed portfolio only)
2) reactive
3) issues and products supervision
Part 9A of FSMA correct answers empowers FCA to make rules that are legally binding on
authorized firms concerning regulated activity + non regulated
Where is fair treatment addressed in the Principles of Business? correct answers Principle 6
TCF correct answers Treating Customers Fairly - initiative of FCA's predecessor
Fundamental Rules correct answers set out by PRA, replaced Principles of Business, lays out
expectations of firms
Proactive Intervention Framework correct answers a supervisory approach adopted by PRA and
not the FCA.
range of sanctions PRA can impose on breaching firms correct answers unlimited fines,
cancelling permission, public censure
Principles for Businesses correct answers general statements of the fundamental obligations of
FCA firms under FSMA 2000
