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CPD: 6 hours 30 mins

About

The aftermath of the 2008 financial crisis brought about a new financial regulatory regime. This new ICSA online training package will take you through the latest UK Financial regulations and how senior management can effectively manage their responsibilities.

UK Financial Regulations training package consists of eight individual courses:

  • Introduction to UK Financial Regulation
  • Prudential Regulations
  • Payment Services Regulations
  • Senior Management Arrangements, Systems and Controls
  • Approved Persons
  • Treating Customers Fairly
  • Complaints Handling
  • Client Money and Client Assets


Package contains

Introduction to UK Financial Regulation

  • Transition to the new regulatory structure
  • What’s happened to the FSA Handbook?
  • Changes to regulation
  • How is the twin peaks approach working in practice?
  • The Prudential Regulation Authority (PRA)
  • The Financial Conduct Authority (FCA)
  • New regulatory style and focus
  • Response to the new regulatory regime

Prudential Regulations

  • Background to Prudential Regulation: Prudential requirements
  • GENPRU: Banks, building societies and investment firms
  • GENPRU: Insurance companies
  • MIPRU: Mortgage firms and insurance intermediaries
  • MIPRU: Intermediaries and administrators
  • UCITS management companies

Payment Services Regulations

  • Scope
  • Authorisation of payment institutions
  • Conduct of business rules
  • Conduct of business: Information
  • Information requirement for single payment transactions
  • Information requirement for framework contracts
  • Rights and liabilities
  • Client scenario: Conduct of business
  • Interaction with other legislation
  • When a customer complains
  • Client scenario: Complaints handling

Senior Management Arrangements, Systems and Controls

  • Purpose of Senior Management Arrangements
  • Apportionment of responsibilities
  • Recording the apportionment
  • Systems and controls
  • Critical areas of systems and controls
  • Exercise: Systems and controls
  • Public Interest Disclosure Act: Whistleblowing

Approved Persons

  • What are controlled functions?
  • Assessing fitness and propriety
  • Statements of the Principles
  • Principle 1: Integrity
  • Principle 2: Due care and diligence
  • Principle 3: Market conduct
  • Principle 4: Dealing with Regulators
  • Principle 5: Effective control of business
  • Principle 6: Due care and diligence in managing
  • Principle 7: Compliance with regulatory requirements

Treating Customers Fairly

  • What does TCF mean?
  • What TCF does not mean
  • Buyer beware
  • TCF in practice
  • A culture of fairness
  • Exercise: What is TCF
  • TCF over the product life-cycle
  • Client scenario: Service level
  • Client scenario: Hard sell
  • Client scenario: Disclosure

Complaints Handling

  • What is a complaint?
  • Why is complaints handling so important?
  • Types of complaints
  • Complaints management guidelines
  • Dealing with complaints
  • Complaints handling procedure
  • Complaints handling etiquette
  • Role of alternative dispute mechanisms
  • Root cause analysis

Client Money and Client Assets

  • What are client assets?
  • Structure of the client asset rules
  • Holding safe custody assets
  • Depositing assets with third parties
  • Use of safe custody assets
  • Records and reconciliations
  • What is client money?
  • Client money rules
  • Client money – diversification
  • Client money – pooling
  • Client money calculation
  • Governance, supervision and oversight



Course price

£100 + VAT (non-members)
£90 + VAT (ICSA members)
£60 + VAT (ICSA students)

Course date

Buy now Book now

Course price

£100 + VAT (non-members)
£90 + VAT (ICSA members)
£60 + VAT (ICSA students)

Buy now