Module Code: H7LRCU
Long Title Law and Regulation for Credit Unions
Title Law and Regulation for Credit Unions (NI)
Module Level: LEVEL 7
EQF Level: 6
EHEA Level: First Cycle
Credits: 10
Module Coordinator: Philip Shanahan
Module Author: Philip Shanahan
Departments:  
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Describe the legal and regulatory framework in which credit unions operate in Northern Ireland;
LO2 Discuss the underlying purpose and benefits of legislation and regulation for credit unions and their members;
LO3 Analyse the role of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the regulation of credit unions;
LO4 Describe the purpose and key requirements of the PRA Credit Union Rulebook and FCA Credit Union Sourcebook (CREDs), and related regulation;
LO5 Evaluate the compliance risks for credit unions (including anti-money laundering, countering terrorist financing, and data protection);
LO6 Critique the methods employed by credit unions to comply with legal and regulatory requirements;
LO7 Apply learning within a credit union context.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Why Legislation, Regulation and Compliance is Important
•Legal and regulatory environment •What legislation is •What regulation is Compliance, consequences of non-compliance •Benefits of legislation, regulation and compliance
Regulation
•Transfer of regulation – Northern Ireland Credit Unions •PRA/FCA regulation
Legislation
•The Credit Unions (NI) Order, 1985, as amended, main provisions, changes to the order further to the transfer of regulation, other subsequent changes •Anti-money laundering & terrorist financing •Data protection •Health and safety •Employment law •Governance and legal duty, governance structure, individual good governance, fiduciary responsibility, conflicts of interest, duty of care, factors affecting liability, ethics
Compliance
•Developing credit union policies •Communication of policy •Policy register •Breach of policy •General principles for compliance •Role of the compliance function •Comparing supervisor and compliance functions •Developing a compliance culture •Setting up a compliance structure
Compliance Reporting
•External reporting of compliance concerns •Internal reporting of compliance •Procedures required
Note
Due to the nature of this curriculum, references to specific legislation and regulation will be updated if and when superseded.

Assessments

Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Online live classes (9 hours) Workshops (14 hours) Directed reading & formative assesment (14 hours) Discussion forums/online tutor support (7 hours) 44 Every Week 44.00
Independent Learning Independent reading/research (105 hours Learning on the job (105 hours) 210 Every Week 210.00
Total Weekly Contact Hours 44.00
 

Module Resources

This module does not have any book resources
This module does not have any article/paper resources
Other Resources
Discussion Note: