Financial Services Regulation - Introduction (ICAS)

Overview

This two-day course provides an overview of the regulatory regime in the UK. In particular, it develops an awareness of how the regulations and applicable statutes affect the operations of investment banking, stockbroking and investment management firms in the UK. No prior knowledge of financial services regulation is assumed. This course does not prepare you for an industry examination (please see the Financial Services brochure for examination training, or contact Client Services on 03331 227 001).

Who is this for?

This course will be of benefit to those who require a practical knowledge of the UK regulatory regime, particularly if you are working in the field of compliance or associated control functions. In view of the provisions regarding senior management responsibility in the UK regime, it is also relevant to those involved in managerial or supervisory functions.

What will you learn?

• Overview
  • Historical background
  • Role of compliance
  • The FCA handbookand PRA rulebook
• The Financial Services and Markets Act 2000 (FSMA)(as amended)
  • The regulatory structure
• The role of the Financial Conduct Authority (FCA)
• The role of the Prudential Regulatory Authority (PRA)
• Authorisation
• Supervision
• Enforcement
• Europe
  • The European regulatory structure
  • The implementation and impact of EU Regulationsand Directives
  • Passporting
• High level standards
  • Principles for businesses / The Fundamental Rules
  • Senior management arrangements systems and controls
  • Senior managersand certification regime (SMCR)
  • Approved persons regime
  • Training and Competence Sourcebook
• Business standards
  • Conduct of Business Sourcebook (COBS) (NB: does not cover ICOBS, BCOBS or MCOBS)
  • Accepting customers
  • Financial promotions
  • Advising and selling
  • Product disclosure
  • Dealing and managing
  • Customer reporting
• Prudential standards
  • Capital Requirements Directives (CRD) – overview only
• Client Assets Sourcebook
  • Custody
  • Client money
• Redress
  • Dispute resolution (complaints)
  • Compensation
• Financial crime
  • Insider dealing (CJA 1993)
  • Market manipulation (S 89-91 FSA 2012)
  • Market abuse
  • Market Abuse Directive II / Regulation
• Money laundering
• Proceeds of Crime Act 2002 (as amended)
• Money Laundering Regulations 2017
• SYSC rules on financial crime
• JMLSG guidance
• Regulatory developments
  • Proposed new regulations