The Training Environment For Financial Services

Financial Promotion for General Insurance and Protection Products - remote delivery

13 Oct 2020, remote delivery

9:30am to 12:45pm

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

Background & Objectives

The last ten years have seen a huge growth in regulatory interest in general insurance sales. Financial promotions have received very uneven scrutiny since 2005. Yet, both the FCA and the Advertising Standards Authority are watching this area, looking for what may be a breach of their favourite rule here: clear, fair and not misleading. 

Making extensive use of examples, this focused half day seminar will explore the key areas that Marketing, Compliance and Risk managers need to watch out for in the non-investment insurance space.

Specifically, attending will help you:

  •     Review the impact of regulatory developments and priorities on financial promotions
  •     Update and refresh your knowledge of the relevant conduct of business requirements
  •     Examine the application of the rules in key and high risk areas
  •     Recognise the differences and similarities between promotions and other communications
  •     Check the effectiveness of your procedures
  •     Understand how the rules impact the internet and digital media
  •     Consider how you can evidence your promotions present fairly what you are offering

Course Agenda

Topics covered may include but are not limited to:

Core concepts

  • Ordinary legal requirements, ASA Code of Conduct, ICOBS 2.2
  • What is a promotion?
  • Exempt promotions – communications to intermediaries and journalists
  • Image adverts and promotions of promotions

Clear, fair and not misleading

  • ICOBS 2.2 & Principle 7 Clear, fair and not misleading
  • ASA Codes of Advertising Practice – key rules
  • Using customer compliments
  • Scaremongering
  • White labelling
  • Misleading visual imaging
  • Pricing claims
  • Mentioning the firm’s regulated status
  • Promotions clearly identifiable as such

Digital media issues

  • Pay per click
  • Websites
  • Price comparison websites
  • Risk management
  • Roles of Risk Management and Compliance
  • Approving, signing off and recording promotions

Course Tutor

Adam Samuel is a compliance specialist and lawyer who has spent much of the last 20 years checking and advising firms from major banks to small one-man firms on financial promotions. Qualified as a lawyer on both sides of the Atlantic and proud holder of an AFPC and CISI compliance diploma, 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.

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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