Knowledge & Competence (K&C) the thorny subject

As the MiFID II deadline draws closer the thorny and sensitive topic of K&C is bubbling up as a major concern for our clients. Information providers not assessed by 3rd January will need to be supervised in their activities and oversight of any client interaction must be in place.

We have spoken to a number of firms in both the Wealth Management and Asset Management sectors this week, all of them are grappling with the assessment of competence of information providers. Who is in scope? Well that is part of the thorny subject, who is speaking to clients even if only on occasional basis?

In Wealth this could be your desk assistants, team secretaries, portfolio assistants who may all be in direct contact with clients and giving them information about prices, valuations, charges, provide generic market or sector views. What about your Research teams – do they ever attend meetings with clients to provide market, sector or stock views on a non advised basis? Most of the firms we are speaking to are including Research teams. Most of these staff members have never been included in formal T&C Schemes before.

In Asset Management, sales teams, client services, broker servicing staff and Portfolio Managers (the really sensitive aspect of K&C). How do you tell a Portfolio Manager of 20 years plus who hasn’t got a formal qualification, that they need to assessed as competent?

FSTP have been listening to the concerns and issues of firms and we have developed a range of solutions to help you through to 3rd January. These solutions are not one size fits all and can be tailored to work with within your business.

We have workshops to cover Wealth and Asset Management to met the ESMA requirements and can provide advanced K&C assessments for more seasoned, professional staff. We can even help you build a K&C framework to cover these people going forward and in readiness for Certification under SMCR.

Take a look below at how the training agenda aligns with the ESMA Requirements. Contact us today to discuss how we can support you.

 

Asset Management - Information Givers Agenda

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A quick overview of how our training aligns to the ESMA Requirements

Wealth Management - Information Givers Agenda

View course brochure

A quick overview of how our training aligns to the ESMA Requirements

Contact us today to discuss how we can support you.


0203 178 4230

info@fstp.co.uk


Julia Kirkland

Managing Partner

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