ADVANCED

Senior Management Obligations under FCA/PRA Rules

Senior Management Obligations under FCA/PRA Rules

Frequency: Monthly   

Duration: 2 hours

Location: Cordium UK offices, 130 Jermyn Street, London, SW1Y 4UR

Cost: £299 + VAT

Course Overview:

The ever increasing focus by the Regulators on the accountability of Senior Management, particularly when things go wrong, emphasises the importance of individuals in senior positions to have a clear understanding of what is expected of them. This succinct course is designed to assist Senior Management to have a full understanding of what they need to do to achieve compliance with two specific parts of the Rules:

• Senior Management Arrangements, Systems and Controls (SYSC); and

• Approved Persons (APER).

Course Objectives:

  • The ability to demonstrate to the Regulator your understanding of the current Regulatory approach and the Senior Management/Approved Person responsibilities
  • The knowledge you need to achieve and evidence compliance with those responsibilities
  • The potential to identify actions that may need to be taken to address any gaps in compliance
  • The ability to ensure that procedures are in place for risk identification, assessment and mitigation

Key topics:

  • The current Regulatory environment; The “Twin Peaks” approach to Regulation and Supervision
  • The link between the Regulator’s objectives in The Financial Services and Markets Act and Senior Management responsibilities
  • Apportionment and Oversight
  • The Principles for Businesses (PRIN)
  • Fitness and Propriety: The Fit and Proper test for Approved Persons
  • The Statements and Codes of Practice for Approved Persons (APER)
  • Examples of what can go wrong: Enforcement Notices against Firms and Individuals

Course aimed at: Senior Management and Approved Persons

Maximum numbers: 12

This course can also be delivered as an onsite course or as an instructor lead course at a firm’s office.