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CPD briefing: Understanding the FCA, VAT on advice and anti-avoidance



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

Investment principles and risk


Pensions and retirement planning


Application standards

ApEx standards covered in this edition of Newsbrief

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

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