UK MCOBS Compliance Essentials Training

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Course Summary

The FCA’s Mortgages and Home Finance: Conduct of Business sourcebook (MCOBS) sets the rules for how firms sell and service home finance. This Ethena course helps staff understand what MCOBS covers, what it requires, and the obligations that continue long after a sale.

What MCOBS is and who it covers
Core conduct requirements for firms
Obligations while a contract is active
Post-sale duties and exceptions

Included Modules:

What Is MCOBS?

Introduces the FCA’s Mortgages and Home Finance: Conduct of Business sourcebook, the rules governing how firms advise on, sell and administer home finance in the UK.

FCA and Mortgage Conduct Regulation

Explains how the Financial Conduct Authority regulates home finance and uses MCOBS to set conduct standards firms must meet across the mortgage market.

What Does MCOBS Cover?

Outlines the products and activities within MCOBS scope, including regulated mortgage contracts, home reversion plans and other home finance arrangements.

What MCOBS Requires

Describes the core MCOBS conduct requirements firms must meet, covering disclosure, responsible lending, advice standards and treating mortgage customers fairly.

Your MCOBS Obligations While a Contract is Active

Covers the ongoing MCOBS duties firms owe customers during the life of a mortgage, including fair charges, communications and account servicing standards.

MCOBS: Post-Sale Obligations

Explains the MCOBS responsibilities that continue after sale, including handling arrears and payment difficulties fairly and supporting customers facing repossession.

When Standard Rules Don't Apply

Identifies the situations where MCOBS rules are tailored or disapplied, such as high-net-worth borrowers, business loans and certain bridging arrangements.

Why is this training important for workplaces?

Anti-money laundering (AML) is crucial for maintaining the integrity of financial systems and preventing illegal activities. Implementing strong AML measures protects businesses from reputational damage, legal consequences, and financial losses. It ensures compliance with regulatory requirements and enhances trust among clients, investors, and stakeholders. By understanding and actively addressing money laundering risks, organizations can foster a safe and secure environment, safeguard their assets, and contribute to the overall stability of the financial ecosystem.

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