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Home > News > February 2006 > 09-Feb-2006

FSA launches e-learning course to help small firms

The Financial Services Authority (FSA) yesterday launched an e-learning package that aims to help small firms work out what financial resources they need to meet regulatory requirements.

The financial watchdog said firms need to keep adequate financial resources at all times and this online training course is designed for those with little or no accounting knowledge.

The e-learning package is the latest in a series of initiatives from the FSA that are aimed at assisting small firms. These include improvements to the Firm Contact Centre such as longer opening hours at key times; more targeted newsletters and web pages; tailored handbooks; and a range of workshops, training courses, roadshows and surgeries.

Stephen Bland, retail intermediaries sector leader at the FSA, said: "As part of our commitment to make it easier for small firms to do business with us we have been working to improve what we offer them. We have made a good start, but there is still work to be done. The e-learning package is a new way of offering assistance to firms and may offer extra support to those that need it."

The FSA has recently conducted its first communications survey of small firms to look into what and how firms receive its information. The survey found that:

  • 82% of them get FSA newsletters
  • 90% had received FSA emails in the last three months
  • 62% access the dedicated web pages at least fortnightly

It also found that 96% of firms are aware of FSA training and over a third of them had attended either a course or a roadshow.

Stephen Bland said: "The survey was carried out to gain a better understanding of the amount and type of regulatory information firms receive. We are grateful to the firms that took part and will continue with the progress that has already been made."

The e-learning package 'Financial resources: Calculating own funds and capital resources' can be accessed via the FSA's website at: www.fsa.gov.uk/pages/Doing/Events/learning/resources.shtml. The FSA says the course costs £30 and takes approximately 1 hour to complete.

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