Foundation in the FSA's Conduct of Business Rules
| Course Code: | 5002 |
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| 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 01327 858292 or e-mail info@ctp.uk.com
Foundation in the FSA's COB Rules Course Outline
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Includes updates and examples nof good and bad practice from the FSA's good and bad practice examples found in 2008.
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"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
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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 thid topic to life with examples of good and ba.
Programme Outline
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.
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SESSIONS
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CONTENT
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| Introduction and welcome |
- State the course objectives and the timetable
- Share the groups' personal objectives for the event
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COB 1&2:
Application;
COB obligation
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- Handbook context, territorial scope and application
- Designated investment business, activities and investments
- Acting fairly & honestly, information disclosure, and inducements
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COB 3:
Client categorisation |
- Client categorisation, re-categorisation, and notifications
- Mixed business
- Policies, procedures and records
- How RDR could impact on this section
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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
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COB 6:
Distance communications |
- Distance marketing disclosure and exceptions
- Providing basic advice on a stakeholder product
- Abbreviated distance marketing disclosure
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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
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COB 8:
Insurance mediation
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- Information to be provided by the intermediary
- Statement of demands and needs
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COB 9:
Client agreements
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- Terms of agreement: content, timing, and medium
- Case study
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Day 2
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SESSION
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CONTENT
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| Review of Day 1 |
- Consideration of key learning points from Day 1
- Questions and clarification of issues
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COB 10 & 11
Identifying client needs and
advising; Non-advised services
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- 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
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COB 12 & 13:
Dealing & managing;
Investment research
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- Best execution, order execution policy, and client order handling
- Aggregation and allocation of orders
- Investment research measures and arrangements
- Case study
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COB 14, & 15:
Product information
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- Key facts disclosure documents and projections
- Information about designated investments, including risk warnings
- Timing and medium of information provision
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| COB 16: Cancellation |
- Exercise of cancellation and withdrawal rights
- Consequences of exercise, including shortfall
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| COB 14, 15 & 16 (continued) |
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COB 17:
Reporting information to clients
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- Occasional reporting and periodic statements
- Disclosure for life insurance contracts
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COB “gap analysis”, summary,
and course close. |
- Comparison of COB and NEWCOB
- Questions and course close
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Money Back Guarantee
Corporate Training Partnerships offer a unique money back guarantee on all training courses.
 We guarantee our training workshops or your money back. If you are attending a CTP event and are not satisfied by lunchtime of the first day, simply turn in your training materials and you will receive a full refund.
Attend one of our courses; then implement and use the strategies that you will learn and if you do not see measurable, tangible results in your performance then we do not deserve to keep your money - we will give you a full refund.
Available in-house. To book or to discuss your requirements contact us now on 01327 858292 or e-mail info@ctp.uk.com
Corporate Training Partnerships - Championing the Compliance Culture
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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