What is outcomes focused regulation?
Outcomes-focused regulation (OFR) is the Solicitors Regulation Authority’s new and very different approach to regulation; a move away from a rules-based approach to a more flexible regime of high level principles and outcomes governing legal practice.
What is outcome based regulation?
Outcomes-based regulation represents a different approach. Outcomes-based regulation is a move away from reliance on detailed prescriptive rules, to high level, broadly stated outcomes that must be achieved.
What are the FCA principles?
The FCA’s 11 principles of business
- Integrity. A firm must conduct its business with integrity.
- Skill, care and diligence.
- Management and control.
- Financial prudence.
- Market conduct.
- Customers’ interests.
- Communications with clients.
- Conflicts of interest.
What is an outcome based approach?
Outcomes Based Approaches to Student Learning (OBASL) OBASL is simply an approach to programme and course design, teaching and learning that is focused on what the students are expected to learn and do (rather than on what the teacher expects to teach).
What is a principle based regulation?
What does Principles-based regulation mean? In general terms, Principles-based regulation means moving away from reliance on detailed, prescriptive rules and relying more on high-level, broadly stated rules or Principles to set the standards by which regulated firms must conduct busi- ness.
What are the 11 principles of FCA?
The principles for businesses
| 1. Integrity | A firm must conduct its business with integrity. |
|---|---|
| 4. Financial prudence | A firm must maintain adequate financial resources. |
| 5. Market conduct | A firm must observe proper standards of market conduct. |
What are the 4 basic principles of OBE?
OBE Principles
- Clarity of focus. This means that everything teachers do must be clearly focused on what they want students to know, understand and be able to do.
- Designing down.
- High expectations.
- Expanded opportunities.
What are your thoughts about outcome-based teaching and learning OBTL )?
Quite simply, OBTL is a student-centred approach to learning and teaching, which has been widely adopted in universities across the world. They should be measurable and indicate the teaching intentions. OUTCOMES: These describe what the learners will be able to do when they have completed their course or programme.
What are the benefits of principles-based regulation?
The potential benefits claimed of using Principles are that they provide flexibility, are more likely to produce behaviour which fulfils the regulatory objectives, and are easier to comply with.
What makes a good regulation?
Regulation may be defined as the combination of organizations, rules, and sanctions that result in behaviors consistent with orderly markets, accountability, transparency and stability. It is in that context that good regulation should be viewed as a driving force for reliable and high quality financial services.
How many outcomes are there in the TCF framework?
six
The Treating Customers Fairly (TCF) initiative aims to deliver six improved outcomes for retail consumers – firms should be focused on trying to achieve these outcomes.
