Learning objectives (full list of ApEx standard covered below)
By reading this edition of Newsbrief and completing the MCQ test online you will be able to:
- Keep up to date on the regulatory and market changes that have taken place during May.
- Understand the aims and direction of the FCA.
- Understand the basis and recommendations of the Sargeant Report.
- Identify changing trends in investment markets.
- Understand the VAT position on adviser charging.
- Understand HMRC’s general anti-avoidance rules guidance.
- Understand the changes to intestacy and trusts rules in new legislation.
- Identify early lessons from the auto-enrolment roll-out.
- Understand potential changes to dealing with small pension pots.
- Identify trends in the protection market.
- Explain how the FCA believes behavourial economics will help in the advice market.
Financial services regulation and ethics
- The new culture of regulation − the FCA settles in
- FCA to exclude VCTs from UCIS promotion ban
- Cheap and cheerful? The Seargeant Report results
Investment principles and risk
- VAT on chargeable services still ironing out
- GAAR hoves into view
- Where there’s a will − intestacy rules finally changing
Pensions and retirement planning
ApEx standards covered in this edition of Newsbrief
|Subject area||Learning outcome and indicative content|
|Financial services regulation and ethics||The regulation of financial services:|
|– The role of the FSA, HM Treasury and the Bank of England.|
|The regulatory advice framework in practice for the consumer.|
|How the retail consumer is served by the financial services industry.|
|Investment principles and risk||The characteristics, tax treatment, inherent risks and behaviours of investment products|
|– Collectives vs indirect investments|
|Taxation||The UK tax system|
|– VAT and corporationg tax|
|The relevance of tax to individuals and trusts|
|Pensions and retirement planning||Defined contribution schemes|
|State schemes and individual pension planning|
|Protection||The consumer and retain market factors and trends relevant to financial protetction|
|– Consumer attitudes and behaviour towards protections needs|
|Application standards||Analyse a client’s situation and the advantages and disadvantages of the appropriate options|