Meeting FSA Expectations of SIFs

Course Code:	SIF 1112
Dates:	On a date of your choice
Venue:	London
Course Fees:	Available on application
CPD Credits:	6 hours

Meeting the FSA's Expectations of Approved Persons in Significant Influence Functions - Course Outline

The effectiveness of Boards, and the individuals who comprise and influence them,
has become a key focus of FSA activity

"As well as proposing new SIF roles, we have already raised the standards for people performing these roles, and increased our scrutiny of these individuals once they are in place, as part of our more intensive supervision."

Graeme Ashley-Fenn
Director
FSA (March 2010)

. As recent communications and experiences have made clear, the regulator is using the Approved Persons regime as one of the main tools in driving through its post credit crunch governance agenda.

In this context, it is clearly more important than ever that senior Approved Persons,
and especially those in Significant Influence Functions (SIFs), are in a position to meet FSA expectations.

This focused one day course will help both Approved Persons, and those who support them, to achieve and evidence compliance in this critical area.

Unlike most seminars and courses this event will focus on HOW to comply rather
than simply to tell you what the Principles and Code of Conduct say. It is fully
up-to-date and will take account of all relevant FSA activity and announcements.

Who is this workshop for?

Senior managers who are or are about to be Approved Persons, particularly those in Significant Influence Functions. This will include Directors an Non Executive Directors, as well as Compliance, Governance, HR and Training & Development professionals responsible for managing and administering authorisation and competence in their organisation. (Please note: this particular course is not intended for Approved Persons in the Customer Facing functions.)

How you will benefit

Attending this workshop will enable you to to:

Recognise what the FSA now expects of Approved Persons in terms of the way you carry out your responsibilities
Review the allocation of Controlled Functions and the implications of recent changes
Consider the way systems and controls are allocated and overseen in your business
Apply the Principles for Approved Persons in a business situation
Understand what the Principles are and what would constitute a breach of those principle
Identify the process to keep documents supporting the governance of the company up to date (and often discovering they are not!)
Keep up to date with relevant regulatory developments and priorities

Training Approach

This workshop uses a combination of trainer input, knowledge sharing with interactive syndicate work and case studies. The pace is quick and groups frequently review their current approach to matters of Governance, Structure and Allocation of responsibilities during the sessions.

Group size is kept to a maximum of 16 to facilitate debate amongst the delegates

Workshop leader: Bob White

Bob has an established record overseeing regulatory compliance within the asset management and financial services sectors. He has lead firms’ ARROW visit preparation on many occasions. He became an independent consultant and trainer in October 2007 and has since worked with a number of CTP clients carrying out ARROW visit preparation.

He uses his extensive knowledge of the investment industry to carry out assignments with clients that involve a combination of compliance consultancy, advice and training. His approach is highly consultative and focused on ensuring that at the end of the assignment the client has an embedded understating to take forward changed working practices.

Bob’s communication style is very clear and logical allowing delegates to participate fully in syndicate exercises and case studies. He is highly inclusive in groups and operates equally well within a team or as a project leader.

He holds an MA in Economics of Money and Finance, a post Graduate Certificate in Education and a BSc (Hons) Social Sciences. He was formerly a member of IMA General Regulations Committee and Money Laundering Advisory Group and at the FSA's invitation, was a practitioner member of FSA N2 client money working party.

Programme Outline

High Level Standards	Review the High level Standards and the importance the FSA attach to them	The fit of the Sourcebooks FSA focus on senior management Keyrole of Systems and Controls Common problem areas
Significant Influence Functions	Know and apply the SIFs required in each firm by the FSA	Significant Influence Functions: understanding the changes in scope and application What it means for intra group structures and responsibilities, including holding company Boards and non UK or EU parents Case studies: applying the functions to typical business structures Examine your own allocation of functions - are they right?
Approved Persons: Standards, Behaviours and Obligations	The standards Approved Persons should meet and how they apply to your business	Increased expectations of executive and non executive directors Principles and code of Practice Improper behaviour Personal liability Case studies -business scenarios that give rise to breaches of principles FSA enforcement actions
Maintaining Approval	Know what information should be notified to the FSA and when	Range of forms for notification Ensuring information is maintained up-to-date Maintaining Fitness and Propriety Maintaining competence
Regulatory Intelligence	Identify developing FSA themes and priorities and be aware of areas of particular regulatory risk or sensitivity	FSA Business Plan and Risk Outlook: what do they tell us Approved Person interviews in Arrow Visits Pre Authorisation interviews Implications of recent FSA superision and enforcement activity
Summary and Final Q&A

This course can also be adapted for delivery in-house, as a group workshop or individual, executive masterclass.

To book, discuss your requirements or simply for further information, contact us now on 01327 858292 or e-mail info@ctp.uk.com

CTP - Championing the Compliance Culture

Booking

If you are interested in booking this course, or if you have any questions, please call call us on 020 3170 5779.

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