The FCA is the authority responsible for regulation of the financial services industry in the UK. The FCA protects consumers, ensures market integrity and promotes healthy competition between financial services providers. The FCA has two main objectives: Protecting consumers by doing what we can to secure an appropriate degree of protection for consumers. Promoting competition in the interests of consumers by making markets work well. The FCA does this by: Achieving a balance between promoting effective competition and securing an appropriate degree of protection for consumers, that is commensurate with their ability to protect themselves. Telling firms how they should deal with their customers, including what products they can offer, how they can advertise them, what information they need to give customers and how they should sell them. Setting rules on financial crime and telling firms how to prevent it (for example, stopping money laundering). Telling firms how they should run their business (including setting minimum standards for financial strength). Ensuring that there are enough skilled people in the industry.
The best choice I made was to pursue the CMI qualification. The knowledge and confidence I gained has been invaluable. My advice to other managers is to get a mentor, set your goals and take action. I qualified as an ICM member in 2010 and since then I have continued to develop my competence through ICM qualifications and training courses. As a result of my achievements I have been promoted twice. The CMI qualification gives you the opportunity to upskill, not only your employees but also yourself. It allows you to share examples of real situations in the workplace and understand how to manage them effectively. If you're looking for recognition in your management role, the CMI qualification is for you!
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