Systems and controls

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This overview is a guide to the Lexis+® UK Financial Services sub-topic Systems and controls and includes links to the materials contained in the sub-topic.

Principles for businesses

The Principles for Businesses form part of the Financial Conduct Authority (FCA)’s High Level Standards. They are the fundamental requirements that apply to FCA-authorised firms and approved persons and they set the standards by which firms and approved persons are expected to conduct themselves, and the core regulatory obligations that apply to them.

For information on the Principles for Businesses, see Practice Note: Financial Conduct Authority—Principles for Businesses (PRIN).

Fundamental Rules

The Fundamental Rules are high-level rules, which collectively set out the expectations of the Prudential Regulation Authority (PRA) of firms and act as an expression of the PRA’s general objective of promoting the safety and soundness of firms and the insurance objective of securing an appropriate degree of protection to those who are or may become policy holders.

There is considerable overlap, but also substantial differences, between the Fundamental Rules and the Principles for Businesses. Dual-regulated firms are expected to observe both.

For information on the Fundamental

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