3/5/26, 7:30 PM CII R01 Exam (Recent exam) Fully solved & updated 2026 Most COMPLETE (2026) (Latest Update 2026) UPDATE!! Flashcards | Q…
CII R01 Exam (Recent exam) Fully solved &
updated 2026 Most COMPLETE (2026) (Latest
Update 2026) UPDATE!!
Save
Terms in this set (35)
Financial Services and Markets Act - Brought together the regulation of all sectors of
2000 (FSMA) the UK financial services industry under one
regulatory system - the FSA
Introduced FOS and FSCS
set out the rules for all regulated activities when
dealing with:
• deposit taking
• stocks and shares
• gilts and local authority bonds
• debentures
• futures
• unit trusts
• open-ended investment companies (OEICs)
https://quizlet.com/1152280502/cii-r01-exam-recent-exam-fully-solved-updated-2026-most-complete-2026-latest-update-2026-update-flash-cards/?new 1/5
, 3/5/26, 7:30 PM CII R01 Exam (Recent exam) Fully solved & updated 2026 Most COMPLETE (2026) (Latest Update 2026) UPDATE!! Flashcards | Q…
Financial Services Authority (FSA) - In 2013
Disbanded - Prudential Regulatory Authority (PRA) and
Financial Conduct Authority (FCA) formed
- Reforms clarified responsibilities between:
HM Treasury and Bank of England in the event of a
financial crisis, Chancellor of the Exchequer directs
the Bank of England where public funds are at risk
to financial stability.
Financial Policy Committee (FPC) - Committee within the Bank of England allows:
1. scrutiny towards emerging risks to the financial
system as a whole
2. Powers to take action where it identifies threats.
Prudential Regulation Authority - Works with the Bank of England but is
(PRA) independent.
- Responsibility for the prudential supervision and
authorisation of important financial institutions such
as banks and firms
- Ensure that individual firms can fail without
bringing
down the entire financial system.
- 'judgment based' approach to supervision,
Prudential Regulation Committee (PRC) makes the
PRA decisions.
UK regulatory structure 1. HM Treasury & Parliament
2. The Bank of England: comprising the (PRA), the
F(FPC), and the (PRC)
3. Financial Conduct Authority (FCA)
https://quizlet.com/1152280502/cii-r01-exam-recent-exam-fully-solved-updated-2026-most-complete-2026-latest-update-2026-update-flash-cards/?new 2/5
CII R01 Exam (Recent exam) Fully solved &
updated 2026 Most COMPLETE (2026) (Latest
Update 2026) UPDATE!!
Save
Terms in this set (35)
Financial Services and Markets Act - Brought together the regulation of all sectors of
2000 (FSMA) the UK financial services industry under one
regulatory system - the FSA
Introduced FOS and FSCS
set out the rules for all regulated activities when
dealing with:
• deposit taking
• stocks and shares
• gilts and local authority bonds
• debentures
• futures
• unit trusts
• open-ended investment companies (OEICs)
https://quizlet.com/1152280502/cii-r01-exam-recent-exam-fully-solved-updated-2026-most-complete-2026-latest-update-2026-update-flash-cards/?new 1/5
, 3/5/26, 7:30 PM CII R01 Exam (Recent exam) Fully solved & updated 2026 Most COMPLETE (2026) (Latest Update 2026) UPDATE!! Flashcards | Q…
Financial Services Authority (FSA) - In 2013
Disbanded - Prudential Regulatory Authority (PRA) and
Financial Conduct Authority (FCA) formed
- Reforms clarified responsibilities between:
HM Treasury and Bank of England in the event of a
financial crisis, Chancellor of the Exchequer directs
the Bank of England where public funds are at risk
to financial stability.
Financial Policy Committee (FPC) - Committee within the Bank of England allows:
1. scrutiny towards emerging risks to the financial
system as a whole
2. Powers to take action where it identifies threats.
Prudential Regulation Authority - Works with the Bank of England but is
(PRA) independent.
- Responsibility for the prudential supervision and
authorisation of important financial institutions such
as banks and firms
- Ensure that individual firms can fail without
bringing
down the entire financial system.
- 'judgment based' approach to supervision,
Prudential Regulation Committee (PRC) makes the
PRA decisions.
UK regulatory structure 1. HM Treasury & Parliament
2. The Bank of England: comprising the (PRA), the
F(FPC), and the (PRC)
3. Financial Conduct Authority (FCA)
https://quizlet.com/1152280502/cii-r01-exam-recent-exam-fully-solved-updated-2026-most-complete-2026-latest-update-2026-update-flash-cards/?new 2/5
