Financial Services, Regulation and Ethics (R01) develops your knowledge and understanding of the financial services profession, including regulation, legislation and the Code of Ethics.
We begin by looking at the purpose and structure of UK financial services, how it operates in the UK and also in a European and global context. We consider the roles of UK and European regulators and how they link together to develop the framework of regulation that now exists.
We then consider the financial products and services consumers need in different stages of their lives and how these needs can be satisfied by developing solutions to meet them.
This unit looks at the laws and legal concepts relevant to financial advice and the regulation of financial services, including the Financial Services Act 2012. We look at the Financial Conduct Authority’s responsibilities and approach to regulation, the principles and rules as set out in the regulatory framework and how to apply the regulatory advice framework in practice for the consumer.
We then look at client advising skills, including communicating, gathering information, assessment and analysis, conclusions and recommendations.
Finally, we examine the financial regulators’ use of principles and outcomes-based regulation to promote ethical and fair outcomes, and how to apply the Code of Ethics and professional standards to business behaviours of individuals.
Building a successful career in personal finance
Financial Services, Regulation and Ethics (R01) is a core unit for the Diploma in Regulated Financial Planning which meets the FCA’s qualification requirements for retail investment advisers. This unit is relevant for paraplanners, technical consultants and those in financial planning support roles. It is also relevant for those seeking additional CII credits towards completion of the Diploma in Financial Planning. those who do not hold additional CII credits counting towards completion of the Diploma in Financial Planning.
Purpose
At the end of this unit, candidates will have investigated the:
- purpose and structure of UK financial services;
- how the retail customer is served by the financial services profession;
- regulatory framework, powers and responsibilities to protect the consumer;
- legal concepts and considerations relevant to financial advice;
- Code of Ethics and its impact on the business behaviours of individuals.
Assessment
- 2 hour exam
- 100 multiple choice questions
- The standard pass mark is 65% (for more information on standard pass marks please see here)
- The 2025 pass rate for this unit was 72.82%
Revision aids available ** Please check individual shop pages for availability dates **
The revision aids available for this unit are listed below. Find out more details.
- Revision Extra: digital course that includes 11-hour long video support covering the syllabus, plus practice questions (please note that this is not included as part of Enrolment plus and will need to be purchased separately)
- Key Facts Booklet: summarises the key information contained in the study text
- Knowledge Checker: multiple-choice questions to test your understanding of the study text
- E-learn: online tutorial that provides interactive study and an assessment tool
- Audio Revision: covers the key elements of each subject in MP3 audio recordings and lasts around 3–5 hours
Note for purchasing revision aids: please make sure you do not already have the revision aid(s) as part of any Enrolment plus purchase.
Course delivery
Instructions on accessing your course on RevisionMate will be sent to your registered email address. This is typically within two working days of your order being placed, but may be longer, particularly if payment is made by bank transfer.
