The Training Environment For Financial Services

Conduct Rules - understanding your Obligations under SMCR

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Outline & Objectives

Despite the turmoil and uncertainties caused by Covid-19, the FCA’s Business Plan for 2020-2021 states that:

We expect all solo-regulated firms to comply with the requirements of the Senior Managers and Certification Regime (SM&CR) as they fall due. The regime aims to see firms across financial services foster healthy cultures where conduct and fair customer outcomes are at the forefront of their business.”

The Conduct Rules, which lie at the heart of the SM&CR, set these basic standards of good personal conduct. As part of the final implementation of the SM&CR, firms are required to ensure that all their staff are fully trained on the Conduct Rules and understand how these Rules impact their job roles. Firms must complete this training by 9th December 2020 at the latest.  

This focused workshop will help firms meet this deadline, familiarise staff with the Conduct Rules and help them to understand what is expected of them in the context of the work they do. 

Attending will enable participants to:

  • Recognise the Conduct Rules which apply to them
  • Consider how the Conduct Rules apply to their specific job roles
  • Identify issues and behaviours which could lead to a breach of the Conduct Rules
  • Understand the personal implications for individuals who breach a Conduct Rule, both now and in the longer term
  • Ensure and demonstrate compliance with SMCR requirements

Who will benefit?

All staff subject to the Conduct Rules from 9th December 2020. The course is equally appropriate for established staff andrecent joiners. It is also suitable as a refresher for Senior Managers and Certified staff (who should have been trained on the Conduct Rules prior to 9th December 2019).

Course Agenda

Topics covered may include but are not limited to:

  • The firm’s obligations for the Conduct Rules as part of the SM&CR
  • The Individual Conduct Rules and the Code of Conduct
  • An overview of the Senior Manager Conduct Rules
  • The Conduct Rules in the personal context of individual job roles
  • How to evidence compliance with the Conduct Rules
  • Implications of Conduct Rule breaches

 

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