As we approach the end of the 2017 and our thoughts turn to Christmas and New Year, we also have some major regulation coming in at the very start of 2018 in the shape of MiFiD II and a busy schedule of changes ahead. This means now is a good time to start planning your training and CPD for your organisation.
We are sure you are well aware the FCA expects your firm to continually review your employee competence and training needs regularly. FSTP is here to help you fill in the gaps. Do get in touch if you’d like us to answer any questions or you’re interested in having a course run for you in-house. Here is our pick of what’s coming up in Q1 2018.
We’ve added two new courses to our current roster which are bespoke. This means we are able to structure training around your organisations particular needs.
In-house only courses
Insurance Distribution Directive (IDD) – An Overview
In February 2018, the Insurance Distribution Directive (IDD) will replace the 17 year old Insurance Mediation Directive (IMD). Whilst the IMD only applies to insurance intermediaries, IDD catches all those who conduct insurance distribution to customers – i.e. insurers, reinsurers, insurance brokers and firms such as banks, or retailers, who provide insurance alongside their primary business and whose customers range from individual consumers to large multinational organisations. This will effectively address the perceived imbalance between direct and intermediated sales.
It is estimated that this will result in IDD covering c.98% of the UK market, as opposed to the c.48% currently covered by the IMD. This half day training session will allow delegates to fully understand the impact of IDD on their business and be up to speed on the updated regulation.
MiFID II – The Impact For Wholesale Firms
Despite the extension to the MiFID II implementation deadline, it is crucial you are using this time effectively and getting your projects up to speed.
The objective of MiFID II is to address the weaknesses from MiFID highlighted by subsequent events and market developments through reinforcing and replacing the current UK/European rules on securities markets. This course is created to help you understand the complex technical infrastructure that is required for MiFID II to work effectively. The alignment of the processes across all operational areas of your business is necessary for effective implementation, and as this stretches across a number of departments again adding to complexity.
We will ensure you are utilising the extension time effectively, and that you have the necessary understanding and insight to make sure projects are all on schedule to be fully tested and operational by the implementation date.
Scheduled Open Courses
Evidencing Effective Board Reporting – January 16
This ever popular 2-hour briefing is designed to fit in with the busy schedule of senior managers and up to board level.
The board pack has come under increased regulatory scrutiny in recent times and weak board packs place your firm at risk of fines, redress and reputational damage. The FCA is focusing on personal accountability at the senior level which makes the quality of board packs the responsibility of directors.
If this has an effect on your role, join us for this workshop. We’ll help you think like a regulator and transform the quality of your board packs.
It’s perfect for anyone who receives or prepares board papers, including and suitable for the following roles: Chairman, Company Secretaries, Executive/Non-executive Directors, Significant Influence Functions holders in FCA regulated firms, Senior Compliance and Business Managers.
Director’s Guide to Surviving an FCA/PRA Visit – January 23
This essential training is packed with value and will keep you prepared for an FCA or PRA visit. For many firms can be a very stressful time, with senior executives feeling the pressure across all sectors. That’s because the PRA and FCA have focused their attention on the leaders of financial firms. Handling a regulator’s visit is now more difficult than ever. With expert insight and smart preparation, we can help you make it easier.
Throughout the course of the day, we’ll cover all the areas you need to be competent and up to speed on including:
- Determine how ready your firm is for a PRA/FCA visit
- Learn what you can expect from the visit (including actual questions asked)
- Anticipate who in your firm is most likely to be interviewed
- Predict what client activities they may want to monitor
- Understand current hot topics and how they’ll influence your visit
- Be prepared for any question the regulator throws at you
- Understand the risk of receiving a 166s order
Culture and Ethics – February 6
Better business culture has become a regulatory priority. This two-hour workshop will give you the tools you need to create a strong ethical culture and this can only happen when senior management drives the process. When these leaders walk-the-walk they ensure strong ethics permeate throughout the firm, from the boardroom to the shop floor.
The FCA has made it clear that senior management teams will be held to account for failings in company culture. A strong framework will protect your execs by satisfying the regulator’s holistic assessment of corporate culture and conduct risk.
We will help you take a step back and get a true picture of your corporate culture. By understanding different models of business culture, you’ll be more objective look at your firm and better able to build your own winning culture.
In addition, embedding corporate culture into your commercial strategy will help you achieve better outcomes for your customers, improving their loyalty to your firm.
Ensuring Your Audit Committee is Effective – February 20
When firms run into trouble, one of the first questions asked is, “Where was the audit committee?” High-profile scandals have highlighted the consequences of poor audit, including black holes in the balance sheet and serious reputational damage.
On this two-hour course, we’ll help you better understand your responsibilities, manage risk and add tangible value to your firm.
This short but packed course is perfect for: Chairs and members of the audit or risk committee, The committee secretary, CEOs, Finance directors and Senior managers.
Retail Conduct and Risk Culture – February 28
The FCA expects you to create a culture of fairness, looking at your firm’s culture as the potential root cause of poor outcomes for your customers. While many firms place a high value on organisational culture, far fewer understand how to link culture with conduct risk and improved outcomes for customers.
This intensive one-day course will help you navigate this landscape will earn you 6 CPD points.
It’s perfect for anyone involved in evidencing and influencing conduct risk and culture within their firm including: Human resource roles, Risk and compliance officers, Marketing and business managers and Senior executives and board members.