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UK Financial Services, Regulation and Ethics (CF1)

UK Financial Services, Regulation and Ethics (CF1) develops your understanding of the financial services industry including regulation and legislation.

The default Enrolment option for this unit includes:

  • Latest version of the core learning content, in digital format only.
  • Additional revision aids.
  • Assessment entry.

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UK Financial Services, Regulation and Ethics (CF1) focuses on the three inter-linked topics of regulation, financial products and services, and ethics within financial services in the UK.

We consider the main asset classes of cash, fixed interest investment, equities and property; and identifying the financial products and services that customers need in different stages of their lives and how these needs can be satisfied by the profession.

Within then consider the obligations financial advisers have to consumers and consumers’ perceptions of financial services, including the process of providing financial advice, identifying a client’s needs, the products and services available to satisfy those needs and the role State benefits might play when providing advice.

We move on to look at the main aspects of the UK legal system an adviser should be familiar with, including powers of attorney, the laws of contract and agency, types of property and its ownership, insolvency and bankruptcy, and the administration of estates.

Finally, we examine regulation, rules and the regulators who enforce these rules to help ensure that markets work with integrity and customers are protected and treated fairly. We look at the work of the Financial Conduct Authority (FCA) and the roles of UK and European regulators and how they link together.

Building a successful career in personal finance

UK Financial Services, Regulation and Ethics (CF1) is ideal for anyone working in administrative, operational and technical support roles.

Learning outcomes

At the end of this unit, candidates should be able to demonstrate a knowledge and understanding of the:

  • purpose and structure of the UK financial services industry;
  • different financial asset classes and product types;
  • process of giving advice and the main areas covered;
  • ethics, regulatory processes, rules and legislation underpinning UK financial services;
  • use of the financial regulators’ powers and responsibilities to protect the market’s integrity and the impact on individuals and firms of these regulators’ powers.

Assessment

  • 2 hour exam
  • 100 multiple choice questions
  • 70% nominal pass mark (the actual pass mark may vary from one session to another to ensure consistency in pass standards)
  • The 2020 pass rate for this unit was 66%

Study material - editions available

2021-22 edition (applicable to exams sat 01 Sep 2021 to 31 Aug 2022)