Due to the importance placed on the conduct rules by the regulator, the FCA has announced that it will increase its supervisory focus on conduct rules across all sectors. Firmly placing the training of conduct centre stage and under the spotlight of the regulator moving forward. This was as a result of findings from a review of SM&CR within the banking sector.
The regulator found from the review that, companies were not always tailoring the conduct rules training sufficiently to the various job roles within their business. The FCA believes that it is essential that staff members understand the conduct rules and how they apply to the individual and their role.
The regulator was also concerned that many companies were unable to explain what a conduct rules breech looked like in the context of their own business. The FCA stated that “there was insufficient evidence to be confident that firms have clearly mapped the conduct rules to their values.” Despite, firms are often using their own values to articulate how they bring the conduct rules to life.
FSTP has been supporting firms with SM&CR preparations since it was introduced for the banking sector, we have a range of support services ranging from full support through to simply providing bespoke guidance on specifics such as conduct rules training across your business and mapping the conduct rules to your business values. We have provided support to smaller business’s through to larger roll outs across multiple locations and departments for larger firms maintaining a consistent message to all staff.
FSTP can offer a range of guidance and support services depending on your current requirements. We have been delivering bespoke conduct rules training for a range of clients, as well as providing support and guidance on who requires what type of training within your firm.
Contact a member of our team today on 02031784230 or email us at email@example.com, and a member of the team will get back to you.
Other posts which may be of interest to you: