The Training Environment For Financial Services

Foundation in FCA Regulation

Course Outline & Objectives

This focused course will provide a clear and easily digestible overview of the new FCA regulatory framework (touching also on the role of the PRA) and highlight the key requirements for firms and individuals. The emphasis will be on the practical implications of the regulations in the day to day business environment.

Focuing on core regulatory themes, concerns and activities, attending this course will help you:

  • Understand the extent of the scope, powers and priorities of the FCA and PRA and what this means in practice
  • Recognise the regulatory obligations on individuals and organisations under both principles and rules
  • Understand the scope and depth of FCA guidance and how to apply it
  • Explore the scope and application of core elements of the FCA Handbook
  • Review the FCA’s approach to discipline and enforcement, learning lessons from recent examples
  • Examine the key rules and expectations relating to how you deal with customers, including conduct risk and 'Treating Customers Fairly'
  • Identify current regulatory themes and developments and how they may affect you and your firm
  • Improve your knowledge of and ability to manage regulatory risks in your business

Who will benefit

This course will be of immediate and lasting value if you:

  • Are new to the Compliance function
  • Have recently joined the financial services industry and need to understand how regulation works
  • Are moving to a role requiring greater regulatory knowledge
  • Are in a Risk management function and need to assess the risks associated with regulation
  • Have become a Senior Manager and want to understand the bigger compliance picture.

Training Approach

The course programme will comprise a blend of trainer presentations, group discussion, practical examples and case studies. There will be ample opportunity for questions, experience sharing and networking. All course materials (and at face-to-face events, refreshments and lunch) will be provided.



Workshop Leader

Gary Pitts has over 20 years of compliance experience, including spells with the Personal Investment Authority, Henderson Global Investors, Brevan Howard Asset Management, Religare Capital Markets and as a Managing Partner of Solo Capital Partners. He now runs his own regulatory and governance consultancy, Tetractys Partners LLP. He has extensive asset management, hedge fund and investment banking experience in addition to a broad and deep understanding of corporate governance. Gary is a regular conference speaker and author of technical articles on compliance-related topics. He sits on the regulatory advisory group of the Journal of Securities Operations and Custody. Gary holds Masters degrees from Oxford and London Universities and an MBA from the Open University Business School, is a former director of Cayman and Luxembourg domiciled hedge funds, as well as regulated companies in the UK and South Africa. Gary has been an FSA/FCA registered person in Controlled Functions 10 and/or 11 since 2001. He brings a combination of compliance and commercial experience, in terms of both practical implementation and Board level oversight, to the training he delivers.

Course Programme

Session Content
Introduction and review of developments in regulation
  • How “Twin Peaks” is developing
  • Context and direction of UK regulation
  • Current and emerging themes and priorities
  • ”Intensive and intrusive, judgemental regulation" and credible deterrence
Duties, powers, objectives and accountability of the FCA and PRA
  • Responsibilities of the FCA
  • FCA and PRA statutory objectives
  • Competition role
  • Enforcement, regarding promotions and product intervention
Discipline, enforcement and credible deterrence
  • Role of the Regulatory Decisions Committee
  • Warning and decision notices
  • Role of the Financial Services Tribunal
  • Options available to firms when facing disciplinary action
  • FCA approach to discipline and enforcement
The FCA Handbook
  • An insight into the structure and content of the FCA Handbook, its development and application
High level requirements, including SYSC and SMCR
  • Overarching requirements of regulated firms and key individuals
Complaints and compensation arrangements
  • Requirement for complaints procedures
  • Financial Ombudsman Service
  • Financial Services Compensation Scheme
  • How the FCA supervises
  • The Firm Systematic Framework
  • Authorisations Permissions
Risk control and current regulatory hot topics
  • The FCA’s expectations
  • Product Development
  • Incentives and Remuneration
Conduct Risk
  • The FCA's conduct risk agenda
  • Conduct risk and conduct of business
  • Key risks and pitfalls to avoid
Training & Competence
  • Importance of training and competence and what makes firms properly trained and supervised
Financial Crime
  • Overview of statutory obligations and appropriate controls
Culture and TCF
  • Regulatory expectations of a firm's culture and treatment of customers
Summary and how to succeed
  • Key steps to ensuring ongoing compliance

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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