Your Responsibilities under the Senior Manager and Approved Person Regimes - 21/09/2017
The Training Environment For Financial Services

Your Responsibilities under the Senior Manager and Approved Person Regimes

21 Sep 2017, London

13:45pm to 5:00pm

Outline & Objectives

Since assuming their powers in April 2013, the PRA and FCA have clearly signalled, and acted upon, their intention to subject managers in the most senior positions to a more intense and intrusive level of scrutiny. The consequences of failing to comply with the enhanced requirements are likely be damaging for the approved individual and highly disruptive for the organisation.

Accordingly, this focused event is specifically designed to help Senior Managers and Approved Persons holding Significant Influence Functions:

  • Make sure you are fully aware of your regulatory obligations, now and under the new Senior Manager Regime
  • Understand regulatory priorities and expectations, especially in key areas such as governance, risk management, culture and conduct risk
  • Consider how to maintain and demonstrate ongoing competence
  • Highlight and avoid common compliance pitfalls and problem areas
  • Know what to expect from regulatory interviews and visits
(The course agenda will be fully updated to reflect developments in the FCA Consultation Paper expected in the summer of 2017).

Who will benefit?

This event will be of value to individuals falling under the scope of the Approved Person or Senior Manager regimes or about to become so. It will also be of interest to those responsible for managing or supporting SIFs and Senior Managers. This programme is particularly useful ahead of a regulatory visit or as part of the induction for senior managers. (We offer an alternative course dealing specifically with the Senior Insurance Managers Regime: please contact us for further information.)

Training Approach

This course will lecture style presentations with practical examples and exercises. Delegate numbers will be limited to ensure a high-quality learning environment combine.

Course Leader

Gary Pitts has over 20 years of compliance experience, including spells as regulator and working in leading asset management, investment banking and hedge fund organisations. He is a former director of Cayman and Luxembourg domiciled hedge funds, as well as regulated companies in the UK and South Africa and has been an FSA/FCA registered person in Controlled Functions 10 and/or 11 since 2001 and now runs his own regulatory and governance consultancy, Tetractys Partners LLP. Gary is a regular conference speaker and author of technical articles on compliance-related topics, sits on the regulatory advisory group of the Journal of Securities Operations and Custody and holds Masters degrees from Oxford and London Universities and an MBA from the Open University Business School. 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

This will be fully updated to reflect developments in the FCA Consultation Paper expected in the summer of 2017


Session Content
Senior Managers and Approved Persons: the regulatory framework and approach
  • The regulatory structure and mandate
  • The key regulatory requirements for Senior Managers and Approved Persons holding SIFs and what this means in practice
  • New developments under the FCA/PRA
  • Outcomes focussed regulation backed by “credible deterrence” strategy
  • Implications of reviews into banking crisis
Responsibilities of Approved Persons
  • Principles and Code of Practice
  • Certification requirements
  • Conduct Rules
  • Enhanced Fitness and Propriety requirements
  • Competence requirements
Risk systems and controls
  • Systems and controls in key areas
  • Risk management and what the regulators will be looking for
  • Key elements of good governance
  • Remuneration and risk
  • Common problem areas
Regulatory hot topics
  • Experiences under the PRA and FCA
  • Corporate Governance, Culture and TCF
  • Oversight and Controls - the responsibilities of Senior Managers and Approved Persons holding SIFs
  • What to expect from regulatory visits

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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