Reasonable Steps - the importance of demonstrability under SM&CR

It is widely believed that SM&CR will result an increased risk of personal enforcement action. This course will identify the various routes through which the FCA can bring a personal enforcement action. It will then go on to consider how this enhanced personal exposure can be managed down to acceptable limits in practice.

The bulk of this (highly interactive) course will be centred around real-life case studies and tailored scenarios.

Key Learning Objectives:

• To highlight the avenues of personal exposure under SM&CR
• To identify what 'reasonable' steps might look like in practice
• To provide practical guidance on record-keeping and the importance of demonstrability
• To equip attendees with some practical self-assessment questions

IF AM SESSION:
09:30 Introduction

• Backdrop and objectives
• Importance of 'reasonable steps'

09:40 Avenues of personal exposure under SM&CR

• Conduct Rules
• Duty of Responsibility
• 'Knowingly concerned'

10:00 Handovers

• Requirements on firms
• Individual responsibilities

10:20 Case studies

• Pottage
• Cummings
• Expectations under SM&CR

11:00 Break

11:15 Interactive scenarios

• Series of real-life scenarios for Senior Managers
• Feedback

12:10 Practicalities

• Importance of demonstrability
• Adopting the right mindset
• Useful questions for Senior Managers

12:30 Close and networking lunch

• A sandwich lunch will be provided and an opportunity for you to network with the trainer and other delegates

IF PM SESSION:
13:30 Registration and Networking Lunch

• A sandwich lunch will be provided and an opportunity for you to network with the trainer and other delegates

14:00 Introduction

• Backdrop and objectives
• Importance of 'reasonable steps'

14:10 Avenues of personal exposure under SM&CR

• Conduct Rules
• Duty of Responsibility
• 'Knowingly concerned'

14:30 Handovers

• Requirements on firms
• Individual responsibilities

14:50 Case studies

• Pottage
• Cummings
• Expectations under SM&CR

15:20 Break

15:35 Interactive scenarios

• Series of real-life scenarios for Senior Managers
• Feedback

16:40 Practicalities

• Importance of demonstrability
• Adopting the right mindset
• Useful questions for Senior Managers

17:30 Course close

All individuals likely to be designated as:

• Senior Managers
• Legal
• Compliance
• Risk
• HR
• Company secretariat

David Berman

David Berman, Partner at Latham & Watkins LLP. David is a pre-eminent authority on SM&CR, culture and governance; and author of 'Senior Individual Accountability in the Financial Services Arena – A Practical Guide' (Thomson Reuters, 2017); and 'Individual Accountability under the Senior Managers Regime’ (Thomson Reuters, 2016). David is one of the City's leading Financial Services Regulatory practitioners.

David advises many institutional asset managers and has extensive experience of assisting banking institutions with their SM&CR implementation projects. He regularly advises boards and senior management teams of asset management firms.

IA Member £375.00 +VAT
Non-Member £450.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

Any cancellation must be made in writing. For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable. No refund is given for a cancellation made 14 days or less prior to the commencement of a course. Transferring from one course to another is treated as a cancellation. You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.