Introduction to FCA supervision of the Investment Management Sector

Back in 2013, the Financial Services Authority (FSA) was retired as the regulator for financial services markets in the UK and was replaced by what is known as a “Twin Peaks” model. This introduced the market to two regulators as opposed to one each with very specific remits for the supervision and oversight of the markets. The Prudential Regulatory Authority (PRA) has the responsibility for Prudential Regulation and the Financial Conduct Authority (FCA) has the responsibility for overseeing conduct within markets at both a firm and individual level.

This half day virtual course is intended to help individuals who are entering financial services gain a good understanding of how regulation works, who does what and why its critical firms and individuals understand the role they play in the operation of effective markets. The key regulatory focus in this introductory session will be on the FCA who is the regulator which oversees the vast majority of firms within the Investment Management Sector.

Key Learning Objectives

• The current regulatory landscape in the UK and how it all fits together
• What is "Twin Peaks" regulation and how does that differ from before
• Who the FCA are and the role they play in supervising the investment management sector
• The FCA’s strategic and operational objectives
• The FCA’s approach to supervision and the tools they use

Contact the IA Training Team to ask questions regarding any of the courses we run, or if you are experiencing problems or difficulties when attempting to register, please email: Training@theia.org

13:00 The UK Regulatory Landscape

• The role of parliament in Financial Services & the concept of twin peaks regulation
• FCA – The regulator for the majority of the Investment Management Sector
• FCA – Strategic & Operational Objectives
• Other regulatory authorities – PRA/PSR/CMA/FOS and the role they play
• Rules vs Guidance and principles based regulation – how does this operate in practice

14:10 Group Virtual Activity

14:25 Group Feedback 

14:45 Supervision under the FCA – What does it look like?

• Risk based supervision – Enhanced/Core/Limited Permission firms
• Portfolio based supervision
• How does the FCA decide which firms pose the greatest risk
• Firms’ Systematic Framework explained
• Dear CEO Letters, Thematic Reviews, Calls for Input, Discussion, Consultation & Policy Papers

15:00 Group Virtual Activity

15:15 Group Feedback

15:20 An introduction to a range of High-Level Regulatory Standards

• PRIN - The fundamental obligations of all firms under the regulatory system
• SYSC - The responsibilities of directors and senior management
• COCON - The conduct obligations for those in financial services
• GEN - general provisions
• DISP – Dispute Resolution – Complaints

15.45pm – Short Group Activity

16.00pm – Final session round up – group discussions

16.10pm – 16.15pm – Trainer Summary & Close

This training course is run under the Chatham House Rule, for reference please see here

The course is delivered at introductory level that is relevant to individuals joining the financial services industry and wanting to understand more about how the markets are regulated.

The programme will be of relevant to individuals operating within any of the following areas:

• Compliance
• Operations
• Human Resources and Training
• Organisation and Change Management
• Corporate Governance
• Risk Management
• Marketing and Sales
• Product Development
• Corporate Communications

Lynne Hargreaves

Lynne Hargreaves has been providing regulatory advisory support to the Financial Services industry for a number of years. Lynne specialises in the interpretation of FCA regulation and the impact on people. This includes the design and development of training & competence frameworks, the Senior Managers and Certification Regime (SM&CR), managing conduct risk, MiFID II and developing culturally aligned pragmatic policies and processes. With a proven track record in operational HR and L&D Lynne recognises the need to ensure solutions are easy to understand and effective.

Lynne has provided consultancy support on T&C scheme design and implementation, diversity and inclusion, the EU Insurance Distribution and Mortgage Credit Directives, Conduct Risk development, HR performance management practices, target operating models and the design of associated training.

Lynne has over 20 years’ experience in Financial Services within a variety of roles in the Retail sector before moving into the world of consulting. The range of senior roles included Sales, T&C, L&D and Operational Leadership. During this time Lynne was responsible for successfully delivering a range of key regulatory initiatives including a strategic Group T&C Programme, SM&CR, S166 remedial actions and the Mortgage Market and Retail Distribution Reviews to name but a few!

IA Member £395.00 +VAT
Non-Member £545.00 +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.

Hybrid Training Courses:

We will continue to monitor and follow government guidance regarding coronavirus (Covid-19) to ensure the safety of our team and our members. Please be advised some training courses could change from hybrid delivery (being held in-person and virtually) to solely virtual delivery, should government guidance require.

There are a limited number of in-person spaces available on this course and this will be allocated on a first come first served basis.