FCA Compliance for Financial Services Staff - New Conduct Rules Explained
The FCA have issued a stark warning to authorised firms about their handling of poor personal staff conduct: 'Our message to firms is clear: non-financial misconduct is misconduct, plain and simple.' During 2018, the FCA saw a noticeable upturn in reports concerning issues like discrimination and sexual harassment in financial services.
The FCA have confirmed that non-financial misconduct can amount to a breach of the new Conduct Rules, which include the requirement to act with integrity. Importantly, the Senior Managers & Certification Regime imposes requirements on firms to notify the FCA of Conduct Rule breaches - and in particular the need to do so within 7 days where they involve an organisation’s most senior staff.
If you work for an FCA authorised firm then you will need to be trained on the new Conduct Rules which come into force in December 2019.
The new rules set minimum standards of individual behaviour and apply to all employees who perform financial services activities in a firm making individuals more accountable for their conduct and competence.
This new half day course will explore the new rules and is aimed at financial services staff at all levels, including compliance officers and human resources personnel with responsibility for implementing the new training requirements.
For an advanced guide aimed at senior staff, please see FCA Compliance - New Conduct Rules for Senior Managers & Non Executive Directors.
What You Will Learn
This course will cover the following:
- Individual Conduct Rules - We will explore each of the following new Individual Conduct Rules in detail and take learning points from FCA guidance and enforcement action against firms and staff:
- Rule 1: ‘You must act with integrity’
- Rule 2: ‘You must act with due care, skill and diligence’
- Rule 3: ‘You must be open and cooperative with the FCA, the PRA and other regulators’
- Rule 4: ‘You must pay due regard to the interests of customers and treat them fairly’
- Rule 5: ‘You must observe proper standards of market conduct’
- Discussion forum - The course will provide a forum to discuss how the new Individual Conduct Rules will apply to specific roles within firms.
2:00pm - 5:15pm
Please let us know if you wish to be notified when new dates are added for this programme