Foundation in the FSA's Conduct of Business Rules

Course Code:	5002
Dates:	On a date of your choice
Venue:	Novotel Tower Bridge, Central London
Course Fees:	Available on application
CPD Credits:	12

We can tailor this course for an in-house event to discuss your requirements contact us on 0203 170 5779 or e-mail info@ctp.uk.com

Foundation in the FSA's COB Rules Course Outline

Includes updates and examples nof good and bad practice from the FSA's good and bad practice examples found in 2008.

"The trainers relaxed manner and clarity of delivery made the event a great success for me." Scottish Widows

"Good pace & level of detail. Case studies very useful in reviewing topic." HBOS

"Course leader had obvious extensive subject knowledge & was able to answer all the issues raised."
Legal & General

"Case studies very good for cementing what we’ve heard. Trainer very clear easy to understand and gives good examples." Co-operative Financial Services

Covering the fundamentals of the content of the FSA’s Conduct of Business rules, this course is essential for everyone wanting to get to grips with the whole Sourcebook and test their understanding of how the rules are be applied in practice. The opportunity is taken to review how RDR could change the advice models currently in place.

Understanding this sourcebook provides any compliance professional with a sound foundation in the FSAs key safeguards for all sectors of the industry as well as the European dimension through the MiFID approach to advised services.

As well as providing a Chapter-by-Chapter review of the rules, through case studies and syndicate exercises delegates will be able to consider the impact of the rules on their current compliance arrangements. Led by an experienced and knowledgeable course leader you will be able to discuss the interpretation of the rules and pick up issues you may have missed.

Who should attend?

If you're a Compliance professional in policy or monitoring areas, or new to compliance then this is an essential training for you. Valuable in depth understanding too if you're enagaged in a management function that is impacted by COBS, particularly marketing and sales/advice areas.

How delegates will benefit

This workshop is designed to help you to:

Gain an understanding of the whole Sourcebook
Understand the fit of the rules in delivering consumer protection
Update your knowledge of the RDR developments in hand for this Sourcebook
Review the FSAs good and bad practice examples
Identify the implications of assessing suitability and appropriateness when providing non-advised services
Consider the impact of the changes to the financial promotions rules
Assess the impact of the timely execution rules
Review investment transaction and other reports to be provided to customers
Identify areas with the most impact on current practice

Training Approach

This workshop uses a combination of trainer input, knowledge sharing with interactive syndicate work and case studies. Group size is kept to a maximum of 15 to facilitate sharing of experience amongst the delegates

Workshop leader: Ian Richardson

Ian is a well respected practitioner and consultant in compliance and has a wide ranging practical experience having spent many years with Barclays Group in the Trust, Taxation and Financial Planning areas in the retail and stockbroking businesses. He is an authority on the practical implementation of COBS rules and brings this topic to life with examples of good and bad.

Since 2002 he has been engaged in a mix of compliance and training assignments for major retail clients and is involved in supporting major change programmes to embed change by translating policy into practical business solutions. Recent assignments have addressed issues such as MiFID, market abuse, KYC, trust administration and Treating Customers Fairly.

Ian’s training style is highly inclusive and delegates comment on the clarity of his communication on complex subjects. He designs programmes that involve creative exercises which challenge conventional views and enable delegates to see ways to implement change within business constraints. His professional qualifications include the ACIB, FPC and CeMAP

Programme Outline

SESSIONS	CONTENT
Introduction and welcome	State the course objectives and the timetable Share the groups' personal objectives for the event
COB 1&2: Application; COB obligation	Handbook context, territorial scope and application Designated investment business, activities and investments Acting fairly & honestly, information disclosure, and inducements
COB 3: Client categorisation	Client categorisation, re-categorisation, and notifications Mixed business Policies, procedures and records How RDR could impact on this section
COB 4&5: Communications to clients; Financial promotion	Fair, clear & not misleading communications and promotions Financial promotions containing offers or invitations Cold calls and other promotions not in writing Approval and communication of promotions; record keeping Case study
COB 6: Distance communications	Distance marketing disclosure and exceptions Providing basic advice on a stakeholder product Abbreviated distance marketing disclosure
COB 7: Information about the firm	Packaged products, scope of advice, and range of products Whole of market and independent status Initial disclosure document and fees and commissions statement Disclosure of charges, remuneration, and commission
COB 8: Insurance mediation	Information to be provided by the intermediary Statement of demands and needs
COB 9: Client agreements	Terms of agreement: content, timing, and medium Case study

Day 2

SESSION	CONTENT
Review of Day 1	Consideration of key learning points from Day 1 Questions and clarification of issues
COB 10 & 11 Identifying client needs and advising; Non-advised services	Assessing suitability; suitability reports; record keeping Churning and switching Basic advice and why it didn't work Non-advised services: assessing appropriateness, and warnings Case study
COB 12 & 13: Dealing & managing; Investment research	Best execution, order execution policy, and client order handling Aggregation and allocation of orders Investment research measures and arrangements Case study
COB 14, & 15: Product information	Key facts disclosure documents and projections Information about designated investments, including risk warnings Timing and medium of information provision
COB 16: Cancellation	Exercise of cancellation and withdrawal rights Consequences of exercise, including shortfall
COB 14, 15 & 16 (continued)	Case study
COB 17: Reporting information to clients	Occasional reporting and periodic statements Disclosure for life insurance contracts
COB “gap analysis”, summary, and course close.	Comparison of COB and NEWCOB Questions and course close

Corporate Training Partnerships - Championing the Compliance Culture

Available in-house. To book or to discuss your requirements contact us now on 0207 170 5779 or e-mail info@ctp.uk.com

Booking

If you are interested in booking this course, or if you have any questions, please call call us on 01327 858307.

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- Liz Cameron, Head of Direct Sales Compliance, Scottish Widows
“Very timely, excellent content, covered a lot in a short time.”
- by Nicky Christofides, Head of Compliance at GE Money
“CTP provided us with a versatile range of training services from e based testing to technical modules and skills training for our advisers and sales management. They work quickly to satisfy deadlines and think creatively to achieve sustainable results. ”
- Ian Lockhart, Sales Operations Director, Scottish Widows
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- David Statham, Group Internal Auditor, IGI Insurance
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- Countrywide
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- Barclays Insurance Services Ltd
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- Group Compliance Manager, Clarke Roxburgh
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- Tim Sierwald, Audit Manager, Assurant Solutions
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- John Moffatt, Compliance Director, Riverstone
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- Legal & General
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- S J Fisher, Managing Director, Colemans
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- Karen Martin, HR and Communications Director, Britannic Assurance
“I would strongly urge senior managers in the insurance industry to attend this course which really prepares you for FSA interviews.”
- Paul Williams, regional Managing Director, Folgate (Towergate)

Corporate Training Partnerships Ltd, London Office: 60 Lombard Street, London, EC3V 9EA. Tel: 0203 1705779
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