- City of London
Market Abuse is a key area of focus for the regulator, and this shows no sign of changing. Especially with the introduction of the new EU Market Abuse Regulation (MAR), taking affect across the UK from the 3rd July 2016. This new regulation will replace the Market Abuse Directive, rules regarding inside information in DTR 2, the dealing of directors and others responsible for discharging managerial responsibilities in DTR 3 as well as the Model Code.
The FCA has made changes to its handbook based on the feedback received from the Consultation Papers. The Disclosure Rules have been replaced with signposts to the EU Articles, Technical Standards and ESMA guidelines. The FCA is also amending its guidance in this area.
With the regulator applying a range of punishments and fines to both individuals and firms regarding Market Abuse failures, including:
- Unlimited Regulatory Fines for both firms and individuals
- Withdrawal or variation of the firms authorisation
- Bar for individuals from ever working in the financial services industry again
- Reputational damage
It is vitally important that all members of staff are fully aware of their responsibilities regarding this area. Also they need to be completely up to date with the changes and how each of these can impact on them and the firm. Firms are responsible for the competence of the staff they employ. One person acting inappropriately could cause reputational damage for the firm that they work for.
This half day session will highlight the offences of Market Abuse to your staff using recent and relevant events as examples. Providing them with the confidence to address any sensitive issues and respond in an appropriate manner that meets the regulatory expectations.
- Recap the main offences of Market Abuse with worked examples
- Regulatory focus on financial crime and particularly the issue of Market Abuse
- Recent cases of Market Abuse and discussion about systems and controls to prevent them
- Individual roles and responsibilities as Approved Persons
- Case studies based on private client business model and where and when Market Abuse is likely to take place
- Next steps
- What will we do differently
The Course Agenda
- Understand what constitutes insider dealing and the implications that are involved.
- Gain an overview of all the offences that can contribute to market abuse
- How to identify these offences
- Your responsibilities in implementing appropriate systems and controls to prevent Market Abuse
- An overview of the potential changes that are forecast from the regulator, and the areas of focus that they have identified
- Understand all the potential elements that can constitute financial crime
- How to identify the various aspects of financial crime and raise suspicion of any of these activities
- Steps that can be taken to reduce the impact of being affected by financial crime
- Understanding the areas of your business that are at risk of fraud
- How to identify possible financial crime/fraud risk
- Scenarios to help build your confidence in identifying and reacting to financial crime/fraud risk
Meet The Tutor
Ian Richardson has over 30 years experience in the Investment Industry as both a practitioner and in a
variety of senior management roles.
An experienced trainer, Ian’s technical and compliance knowledge is both extensive and current. He regularly lectures for the Chartered Institute of Securities and Investments on FCA Regulation & Compliance, Securities and Investment Principles and Risk. He co-authored the PCIAM approved textbook and over recent years has successfully coached many experienced portfolio managers through this examination and many others for RDR purposes.
Who is this course for?
It’s perfect for anyone who receives or prepares board papers, including:
• Company Secretaries
• Executive/Non-executive Directors
• Significant Influence Functions holders in FCA regulated firms
• Senior Compliance and Business Managers
Training that makes a difference
Experienced engaging trainers
With first hand industry knowledge and an intimate understanding of the regulatory environment, we always guide you with an expert (and friendly) hand.
Packed with relevant information
We know you’re busy, so we’re careful not to waste a minute of your time. Our training courses are fast paced, insightful and filled with valuable information.
Get personalised attention
Sessions are practical workshops not PowerPoint lectures. All courses are limited to no more than 14 attendees, so we’re able to explain concepts in the context of your business.