The Training Environment For Financial Services

Financial Promotion under COBS

This course has already taken place click here to view our current courses

Outline & Objectives 

The rules, guidance and ‘standards’ for the financial promotion of investment product (including pensions and insurance-based investments) continue to evolve. The FCA's new powers and more proactive approach to conduct risk, along with the impact of recent regulatory updates on issues and trends identified through routine monitoring, continue to set new challenges to firms offering investment products. 

Making extensive use of CASE STUDIES and EXAMPLES, this practical course will help Marketing and Compliance professionals keep up to date with the evolving rules, guidance and standards in this critical area of business and regulatory risk. 

Specifically, attending will help you: 

  • Review the impact of regulatory developments and priorities on financial promotions 
  • Update and refresh your knowledge of the relevant COBS requirements 
  • Review the application of the rules in key and riskier areas 
  • Recognise the differences and similarities between promotions and other communications 
  • Check the effectiveness of your process for signing-off promotions 
  • Understand how the rules impact the internet and digital media 
  • Consider how you can evidence that your promotions are presenting fairly what you are offering 

Who will benefit? 

If you have responsibility for creating or signing off advertisements and other communications relating to investment products, this workshop will help you understand and comply with regulatory expectations. Firms gain real business benefits from sending people from their Compliance and Marketing areas. 

 Training Approach 

This course will be delivered via a real time slide sharing and live audio visual platform, accessible by desktop computer, laptop, tablet or smartphone. Class size will be limited to ensure a high quality and interactive learning experience. 

Course Presenter

Adam Samuel is a compliance specialist and lawyer who has spent much of the last 20 plus years checking and advising firms from major banks to small one-man firms on investment-related financial promotions. Qualified as a lawyer on both sides of the Atlantic and proud holder of an AFPC and the CISI Compliance and Investment Adviser Diplomas and Certificate in Advanced Financial Planning, Adam wrote the only major book on financial services complaint handling in 2005. His expert evidence on investment risk and compliance has been accepted by the English High Court and the Gibraltar Supreme Court.

Course Programme

Session Aim Content
Introduction

Introduce the key rules that apply to promotions

Define promotions for which a firm is responsible

Look at advertising which may fall on either side of the line

  • Law, codes and rules that apply to promotions
  • Define promotions
  • Promotions that are exempt from the FCA rules
  • Punishments for breaking the rules
COBS chapter 4 and the ASA Codes

To understand the key (investment) conduct of business rules that apply to financial promotions and MiFID marketing communications

To undertake practical reviews of a number of financial promotions

  • The scope of application of COBS and the ASA Codes
  • Clear, fair and not misleading
  • Risk disclosure, prominence and the font-size rule
  • Rules against unfair comparisons
  • Tax
  • Making promotions identifiable as such
  • Naming the firm, regulator and compensation scheme
  • Past, simulated and future performance
The effect of the consumer duty To understand the impact of the consumer duty on the FCA's approach to communications
  • PRIN2A and Principle 12 and their scope and effect on COBS 4
  • Tailoring and testing communications
  • Communication hints
Digital and electronic media issues not already covered

To consider how digital media affects promotions regulations

To learn how to review websites

To consider the implications of pay-per-click advertising

  • Remaining social media issues
  • Websites
  • Pay-per-click
  • Other issues from social media
Compliance oversight and risk management To examine the role of Compliance, Risk and Marketing teams in financial promotions
  • Risk management
  • Sign-off procedures
  • Three lines of defence
  • The role of compliance
  • Management Information

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.

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