- Regulation and Compliance - The Fundamentals For Insurance
30 April, 2019
9:30 am - 5:30 pm
- City of London
Course Fees (excl. VAT)
- Single Booking £595.00 (GBP)
- Multiple Booking £535.50 (GBP)
Get to grips with complex regulation and protect you and your firm from regulatory failures
The buying public’s confidence in the Financial Services industry was shattered by a series of scandals that emerged during the ‘noughties’. As a result, Governments have introduced comprehensive and radical regulation as a way of rebuilding trust.
For small businesses the scope of the new rules can seem daunting, and for new staff in the sector it’s hard to know where to begin.
But poor compliance causes more than just a regulatory headache. It can ruin a firm’s reputation, devastate its balance sheet and cause untold harm to consumers. Breaking the rules can also lead to personal liability (at all levels in the firm).
This intensive, hands-on course will help you get your head around the fundamentals, giving you a thorough grounding in UK financial services regulation, particularly in the area of insurance. You’ll learn to think like a regulator, and to avoid making compliance mistakes. Get expert guidance on:
- The UK’s regulatory structure
- The Senior Managers and Certification Regime (SM&CR)
- The ‘new’ Conduct of Business rules (Tiers 1 and 2)
- Financial crime issues including anti-money laundering and bribery
- Changes to the Client Assets Sourcebook
- Complaints and redress procedures
This practical course is of particular value to new starters in the insurance sector, or those who simply wish to extend their understanding of this important aspect of professional life.
Grasp the key regulatory issues quickly
The sheer scope of the UK’s regulatory authorities can be overwhelming. We’ve done the hard work for you by identifying the most important features of the system; saving you time and helping you avoid costly mistakes down the road.
Stay one step ahead
Regulation is constantly changing, and it’s easier than you might think to break the rules. Make sure you’re protected with the latest regulatory advice from our experts.
Work with greater efficiency
Getting to grips with regulatory issues now means you’ll avoid last-minute panics. You’ll spend less time trawling through regulations and more time adding value to your firm.
Learn what applies to you
As an employee of a financial services firm, you could be liable for heavy financial penalties, lawsuits and accusations of misconduct. Minimise that risk by making sure you’re on top of your responsibilities.
Get on the fast track to success
Even if you’re new to financial services, it’s never too soon to be thinking about personal development. A detailed understanding of the regulatory landscape will give you the technical skills to match your ambition.
Safeguard your firm (and its reputation)
Compliance can make or break even the biggest of businesses. There’s no exception to that rule. Arm yourself with the knowledge you need to protect your firm, and make sure its reputation stays spotless.
The Course Agenda
The structure of regulation
- An introduction to regulation
- The Financial Services and Markets Act 2000
- The FCA and PRA
- Regulated activities and insurance
- An overview of the principles for businesses
- Senior management systems and controls
- Understand the routes to authorisation
- Learn who can be excluded from authorisation
The FCA’s approach to regulation
- Statutory and operational objectives
- What is SM&CR?
- What is the Fit and Proper Test?
- How do the approval and certification processes work?
- Performing controlled functions
Conduct of Business rules
- An introduction to client categorisation
- Understanding inducements
- Rules regarding financial promotions
- Assessing demands and needs
Client money rules
- The Client Assets Sourcebook (CASS)
- Accountability and record-keeping
- Meeting prudential standards
- The EU’s Capital Requirements Directives
Complaints, enforcement and redress
- What is a complaint?
- Understanding procedures and timescales
- The Financial Services Compensation Scheme
- The Financial Services Ombudsman
- What is money laundering?
- Legislation and offences
- Carrying out due diligence
- Expert guidance on the latest announcements, consultation papers and enforcement
Meet The Tutor
John has worked in insurance since 1991, in senior learning and development and compliance roles in both insurers and brokers. A training consultant since 2005, John designs and delivers interactive regulatory, risk, financial and business skill training for brokers and insurers. He brings a unique blend of experience, commercial awareness, credibility and pure energy. More importantly he brings a broad multi functional perspective: the antidote to the traditional insurance “silo culture” and is equally effective at all levels: from induction training to Board level.
John has a BA (Hons) in History from Kings College London, holds a financial qualification from the Open University, a Diploma in Management from Henley Management College and is a Member of the Chartered Institute of Personnel and Development. His published articles have covered financial crime, learning and development strategies, operational risk management and Solvency II.
Who is this course for?
This one-day briefing has been designed for:
- New employees of financial services firms
- Employees wishing to update their knowledge
- Students of foundation or certificate level regulatory qualifications
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.