The SMCR Code of Conduct is freely available on the FCA Website, but how did it come about?
What’s the history of the SMCR and the Code of Conduct Rules, and why were the Approved Person code of conduct not sufficient?
In this 1/2 day training session we will explain not only what, but the how and why the new code of conduct applies to ALL Financial Services Staff, not just the SMFs or the Certificated Persons. We will show who doesn’t need to abide by the rules, but more importantly provide real life examples of why they apply to today’s businesses.
What Makes This Course Different?
- Need a kick start to your SMCR training? Well this workshop will equip you with everything you need to know and everything you need to do
- Leveraging the trainers experience with the banking rollout we look to unpick the lessons to be learnt for the SMCR extension to all regulated firms
- Packed with practical experiences to illustrate the relevance and dovetails with the SM&CR
- Conduct rules; where di they come from, what do they mean & why do they matter?
- Walk away with a clear plan of your next steps for your SMCR implementation
- We can also go into greater depth on the requirements for your company to implement their own project plan if needed as an additional course.
Objectives
- Review and understand the backstory to SMCR and where it came from
- To know and understand the key employee categorisations within your firm, SMFs, CP, non-approved and ancillary
- Apply the conduct rules to your firm and your organisation
Content
Overview and journey to the SMCR regime – briefly!
- The backstory to SMCR; the Parliamentary Commission for Banking Standards (PCBS)
- The regulatory reaction
- The Fair & Effective Markets Review
- The road to Implementation
- Aims and Objectives of SMCR
- What is the SMCR, what does it mean and why do the COCON Rules matter
Conduct Rules
- Individual conduct rules, what are they and how do they apply
- Tier 2 Conduct rules for SMFs
- Reasonable steps for SMFs