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The Training Environment For Financial Services
Assessment of Value (AoV) is a result of the FCA's findings following the Asset Management Market Review in 2018. Part of a package of measures to address weaknesses, the FCA implemented a number of changes. AoV came into effect in September 2019 with funds falling into scope on their annual reporting dates thereafter.
Since implementation, the FCA has carried out two thematic reviews of AoV across the industry and found that there were significant gaps remaining both in best practice and implementing specific rules and guidance. While the most recent thematic review has concluded that there have been improvements across the industry, the FCA has made it clear that there is still work to be done particularly in the areas of governance, fees and use of evidence to support conclusions.
As a result, and given the FCA’s focus on Consumer Duty, firms will remain under increased scrutiny in this area. It is important to understand the scope of the regulation, the roles involved and how to ensure oversight and implementation of recommendations. This is a key priority for the regulator and it is important for firms and individuals to understand their obligations and responsibilities in this area.
Anyone involved in or responsible for key Product Oversight, Independent Non-Executive Directors, Authorised Fund Managers and ACDs, Senior Management and Board Members. It will also be of benefit to Investment Managers, Directors or Product providers, Compliance Specialists and Due Diligence firms and individuals.
Steven Martz is a consultant and training practitioner with over 10 years’ experience in the financial sector. He consults on risk, compliance, operations with a particular focus on implementing change across regulations, systems, and processes. He has held SMF16/17 functions in investment management and authorised fund management firms. In addition, he delivers training in compliance and operations, and is a teaching fellow at the University of Edinburgh where he delivers courses in philosophy. He holds a PhD from the University of Edinburgh.
| Session | Content |
|---|---|
| Introduction & Overview |
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| AoV and Consumer Duty |
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| The Categories of Assessment |
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| Reporting |
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| Best Practice |
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| Key Roles and Responsibilities |
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| Implementation of Recommendations |
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This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.
