What Are the Compliance Training Courses for Financial Services Firms in 2026?

Financial services is one of the most heavily regulated industries in the UK. The Financial Conduct Authority (FCA) regulates over 50,000 firms and expects each one to maintain robust training programmes that keep pace with regulatory changes.

In 2024, the FCA issued £176 million in fines—more than triple the £53 million issued in 2023. The majority of these penalties were linked to breaches of the FCA's Principles for Businesses, including failures in management, control, and customer protection.

This guide covers the compliance training courses financial services employees need in 2026, from baseline requirements to FCA-specific regulations.

Why Is Compliance Training Mandatory for Financial Services in 2026?

Financial services firms handle sensitive customer data, manage significant funds, and provide advice that directly impacts people's financial wellbeing. The FCA exists to ensure these firms operate with integrity, transparency, and proper safeguards.

The consequences of non-compliance are severe. Beyond financial penalties, firms face reputational damage, operational restrictions, and potential loss of authorisation. Starling Bank was fined £29 million in September 2024 for "shockingly lax" financial sanctions screening controls. The FCA stated the bank had left the financial system "wide open to criminals and those subject to sanctions."

Starling had grown from 43,000 customers in 2017 to 3.6 million in 2023, but its compliance controls failed to keep pace with this growth. The case demonstrates how rapidly scaling businesses must invest equally in their compliance infrastructure.

Training forms the foundation of any compliance programme. The FCA's Training and Competence (TC) sourcebook requires firms to ensure staff have the knowledge and skills to perform their roles competently. Without documented, regularly updated training, firms cannot demonstrate they meet regulatory expectations.

Which Core Compliance Courses Must Financial Services Employees Complete in 2026?

Before addressing FCA-specific requirements, all financial services employees must complete baseline compliance training that applies across UK workplaces.

GDPR and Data Protection Training for Finance

Financial services firms process vast amounts of personal and financial data. Under UK GDPR and the Data Protection Act 2018, the Information Commissioner's Office (ICO) expects organisations to train staff on data handling responsibilities.

Training should cover the lawful basis for processing, data subject rights, breach reporting procedures, and secure handling of customer information. The ICO can issue fines of up to £17.5 million or 4% of annual turnover for serious breaches.

Health & Safety and Workplace Conduct

The Health and Safety at Work Act 1974 requires employers to provide whatever information, instruction, training, and supervision necessary to ensure employee health and safety. For office-based financial services staff, this typically includes display screen equipment assessments, fire safety awareness, and first aid basics.

Equality and Diversity

The Equality Act 2010 protects employees and customers from discrimination. The Worker Protection Act 2023 strengthened employer duties to prevent sexual harassment in the workplace. Financial firms must train staff to recognise discrimination, understand protected characteristics, and maintain inclusive workplace practices.

What FCA-Mandated Compliance Training Is Required?

The FCA sets specific training requirements through multiple regulatory frameworks. Here are the key areas every regulated firm must address in 2026.

Anti-Money Laundering (AML) Training

AML training is a legal requirement under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. Regulation 24 requires firms to ensure relevant employees are made aware of money laundering and terrorist financing law, and are regularly trained to recognise and deal with suspicious transactions.

"Relevant employees" includes anyone whose work could contribute to identifying, mitigating, or detecting money laundering. Firms must maintain written records of all AML training provided. Failure to comply is a criminal offence under Regulation 24.

Best practice recommends refresher training at least every 18–24 months, though firms must also update training whenever regulations change.

Anti-Bribery and Corruption Training

The Bribery Act 2010 creates a corporate offence of failing to prevent bribery. The Ministry of Justice guidance identifies staff training as one of six "adequate procedures" organisations should implement. For financial services, where employees may handle gifts, hospitality, or third-party relationships, this training is essential.

Training should cover what constitutes bribery, red flags to watch for, and internal reporting procedures.

Conduct Risk and Consumer Protection Training

The FCA's Consumer Duty, which came into force in July 2023, requires firms to act to deliver good outcomes for retail customers. This applies across four outcome areas: products and services, price and value, consumer understanding, and consumer support.

The FCA has noted that some firms are "not training staff well enough in terms of having complex conversations with customers" to support good outcomes. Training must help employees understand how to communicate clearly, assess customer needs, and ensure products are appropriate for those they serve.

What Additional Compliance Training Do Financial Services Employees Need in 2026?

Beyond the core courses above, financial services employees often need specialised training based on their roles and the firm's activities.

Why is Anti-Money Laundering (AML) training mandatory in finance?

AML training is mandatory because financial services firms are classified as "relevant persons" under the Money Laundering Regulations 2017. Banks, investment firms, insurance companies, and payment providers all fall within scope.

The regulations require firms to train all employees whose work is "relevant to the relevant person's compliance with any requirement in these Regulations" or "capable of contributing to the identification or mitigation of the risk of money laundering."

In practice, this means most employees in regulated financial firms need some level of AML awareness, with enhanced training for those in higher-risk roles such as customer onboarding, transaction monitoring, and compliance.

Why must financial employees complete Anti-Bribery and Corruption training?

The FCA expects firms to have systems and controls to prevent financial crime, which includes bribery and corruption. Beyond the Bribery Act 2010 requirements, the FCA's Principles for Businesses require firms to conduct business with integrity and observe proper standards of market conduct.

Training helps employees identify situations where bribery risks arise—such as when dealing with intermediaries, making facilitation payments, or offering hospitality—and understand how to respond appropriately.

What is Conduct Risk and Consumer Protection training?

Conduct risk training ensures employees understand their obligations under the FCA's Consumer Duty and broader conduct requirements. The Consumer Duty requires firms to deliver good outcomes across the customer journey, from product design to after-sales support.

Training should cover the four Consumer Duty outcomes, how to identify and support vulnerable customers, clear communication requirements, and fair value assessments.

How does Cybersecurity & Data Protection apply to financial services?

Financial firms are prime targets for cyber attacks due to the sensitive data and funds they hold. The FCA expects firms to maintain operational resilience, which includes staff awareness of cyber threats.

Training should cover phishing recognition, password security, incident reporting procedures, and secure handling of customer data. With increasing regulatory focus on operational resilience, firms must ensure employees understand their role in protecting systems and data.

When is Cross-Border and International Compliance training required?

Firms operating internationally must comply with sanctions regimes, anti-terror financing rules, and data protection requirements across jurisdictions. Staff handling cross-border transactions need training on UK sanctions lists, international screening requirements, and how regulations differ between markets.

The FCA is increasing its focus on sanctions compliance, particularly following the expansion of sanctions regimes in recent years. Staff must understand how to screen customers and payments against the UK Consolidated List and other relevant sanctions lists.

What Are the Challenges of Compliance Training in Finance in 2026?

Traditional compliance training in financial services faces several obstacles that undermine its effectiveness.

The complexity of regulations presents a significant challenge. Financial services firms must navigate the FCA Handbook, Money Laundering Regulations, Bribery Act, GDPR, and numerous other requirements. Keeping training current across all these areas requires substantial resources.

The cost of non-compliance creates pressure. With FCA fines reaching £176 million in 2024 and individual penalties potentially running into millions of pounds, the stakes are high. Yet many firms struggle to demonstrate that training actually changes employee behaviour.

The forgetting curve compounds these problems. Research by Hermann Ebbinghaus found that 50% of newly learned content is forgotten within 20 minutes, and only 24% remains after 31 days without reinforcement. Traditional annual training sessions cannot overcome this retention challenge.

Employee engagement is another concern. A Gallup study found that only 10% of employees report compliance training has impacted their work practices. Long, lecture-style modules fail to connect with how people actually learn and work.

Regulatory change creates ongoing pressure. The FCA continuously issues new guidance, updates rules, and responds to emerging risks. Training content can become outdated quickly, requiring firms to have systems that allow rapid updates and redeployment.

How Can Microlearning Simplify Compliance in Financial Services in 2026?

Microlearning addresses the core challenges of traditional compliance training by delivering content in short, focused modules that fit into daily workflows.

Research shows microlearning can boost knowledge retention by up to 50% compared to traditional training methods. The Association for Talent Development found microlearning increases retention rates by 20%, while completion rates reach as high as 82% compared to traditional eLearning.

For compliance specifically, microlearning offers several advantages. Short modules can be updated quickly when regulations change. Employees can complete training during natural breaks in their day rather than blocking out hours for lengthy sessions. Regular, spaced repetition helps combat the forgetting curve.

5Mins.ai provides CPD-accredited microlearning courses covering all the compliance areas financial services firms need, from AML and anti-bribery to Consumer Duty and SMCR. Content is regularly updated to reflect regulatory changes, and gamified elements drive engagement.

How Can Financial Services Stay FCA-Compliant with Modern Training Approaches?

Meeting FCA compliance requirements in 2026 requires a training approach that combines comprehensive coverage with practical delivery.

Core compliance training including data protection, health and safety, and equality—applies to all employees. FCA-mandated training covering AML, anti-bribery, Consumer Duty, and conduct rules must be tailored to specific roles and responsibilities. Documentation of all training delivered and completed is essential for demonstrating compliance to regulators.

Modern microlearning platforms make it possible to deliver this training in a way that works for employees and businesses. Rather than annual tick-box exercises that employees forget within weeks, ongoing bite-sized learning builds genuine understanding and keeps compliance top of mind.

The FCA does not prescribe specific training formats, giving firms flexibility in how they deliver compliance education. What matters is that training is appropriate to employees' roles, regularly updated, and properly documented.

Frequently Asked Questions

What compliance training is mandatory for FCA-regulated financial services?

FCA-regulated firms must provide training on Anti-Money Laundering (required under the Money Laundering Regulations 2017), conduct rules under the Senior Managers and Certification Regime (SMCR), Consumer Duty requirements, and anti-bribery measures. Additionally, all UK workplaces must cover GDPR, health and safety, and equality training.

Who needs Anti-Money Laundering (AML) training in financial services?

Under Regulation 24 of the Money Laundering Regulations 2017, "relevant employees" must receive AML training. This includes anyone whose work could contribute to identifying, mitigating, or detecting money laundering. In financial services, this typically means customer-facing staff, compliance teams, and those involved in transaction processing or customer onboarding.

How often should financial services compliance training be refreshed?

Best practice recommends AML training every 18–24 months. SMCR conduct rules training should be refreshed annually or when roles change. However, all compliance training should be updated whenever significant regulatory changes occur. The FCA expects training programmes to keep pace with evolving requirements.

What happens if a financial services firm fails to meet FCA compliance training requirements?

The FCA can impose financial penalties, issue public censures, place operational restrictions on the firm, or withdraw authorisation in serious cases. In 2024, FCA fines totalled £176 million. Failures in management and control were among the most common breaches. Individual senior managers can also face personal liability under SMCR.

Can FCA compliance training be delivered online through microlearning?

Yes. The FCA does not prescribe specific training formats. Online microlearning is an effective delivery method that research shows improves retention and completion rates. The key requirements are that training is appropriate to employees' roles, regularly updated, and properly documented to demonstrate compliance.

Do all financial services employees need Conduct Risk and Consumer Protection training?

Employees who interact with retail customers or influence customer outcomes should receive Consumer Duty training. The FCA expects firms to ensure that good customer outcomes are understood at all levels, from board members to front-line staff. The depth of training should be proportionate to each role's impact on customer outcomes.

What additional compliance training is required for global financial firms?

Firms operating internationally need training on sanctions screening across multiple jurisdictions, cross-border data transfer rules, and anti-terror financing requirements. Staff processing international transactions must understand how UK, EU, US, and UN sanctions lists apply, and how to screen customers and payments effectively against these lists.

Ready to transform your compliance training? Discover how 5Mins.ai delivers engaging, bite-sized compliance courses that meet FCA requirements while fitting seamlessly into your employees' working day. Book your demo today!