UK Financial Services, Regulation and Ethics (CF1) develops your understanding of the financial services industry including regulation and legislation.
The unit 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
- The standard pass mark is 70% (for more information on standard pass marks please see here)
- The 2024 pass rate for this unit was 64.7%
Units treated as equivalent
Due to the extent of syllabus overlap, certain combinations of current and withdrawn units will result in only one award of CII credits.
If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. Clarification should always be sought from CII Customer Service.
Find out more about CII credit awards for equivalent units
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.
- Key Facts Booklet
- Knowledge Checker
- E-learn
Note for purchasing revision aids: please make sure you do not already have the revision aid(s) as part of any Enrolment plus purchase.
