Introduction
– A background to the SMCR regime and the content of the training course.
Senior Managers Regime
– Statements of Responsibilities
– The duty of Responsibility
– Prescribed Responsibilities
– Sharing Senior Management Functions
– Sharing Prescribed Responsibilities
– Overseas Managers
– The 12-week Rule
– Non-executive directors
– Partnerships under the Senior Managers Regime
Certification Regime
– Certification functions
– Performing more than one Certification Function
– Senior Managers and the Certification Function
– Significant Management Certification Function
– Overseas employees
Fit and Proper requirements
– Fit & Proper test
– Evidence requirements
– Criminal records checks
– Regulatory references
Conduct Rules
– Two tiers of Conduct Rules
– Activities the Conduct Rules apply to
– Who the Conduct Rules apply to
– Training requirements
– Reporting breaches of the Conduct Rules
Features
– Designed by Experts
– Compatible on multiple devices
– E-Learning modules available offline
– Tailor any module to your needs
– Trackable testing & administrative tools
– Bespoke implementation on our LMS or yours
The Senior Managers Regime – An Overview
– Increased accountability
– Key aspects of SMR
– Who is defined as a Senior Manager?
Your Responsibilities as a Senior Manager – the Internal Framework
– The Statutory Duty of Responsibility
– Statements of Responsibilities
– Prescribed Responsibilities for Senior Managers
Fit and Proper Requirements
– Honesty, integrity and reputation
– Competence and capability
– Financial soundness
– Background checks and references
Conduct Rules for Senior Managers
FCA Notifications
– Pre-approval
– Code of Conduct breaches
Summary of the Certification Regime
– Overview
– Certification Functions
Conduct Rules revisited
Quiz
Features
– Designed by Experts
– Compatible on multiple devices
– E-Learning modules available offline
– Tailor any module to your needs
– Trackable testing & administrative tools
– Bespoke implementation on our LMS or yours
Introduction to the SMCR Framework
– A background to the SMCR regime and the content of the training course.
How SMCR Applies to a Certified Person
The Certification Regime – an Introduction
– What are Certified Functions?
– Territorial Scope
– The FCA Directory
– Issuing Certificates
– What does Certification involve?
The Fit and Proper Test
– Honesty, integrity and reputation
– Competence and capability
– Financial soundness
– Regulatory references
Conduct Rules
What are the risks to you?
What next?
Quiz
Features
– Designed by Experts
– Compatible on multiple devices
– E-Learning modules available offline
– Tailor any module to your needs
– Trackable testing & administrative tools
– Bespoke implementation on our LMS or yours
The aims of SMCR
Three Elements of SMCR
– Senior Managers Regime
– Certification Regime
– Conduct Rules
Conduct Rules Overview
– Overview
– Who must follow the conduct Rules?
– What is the standard of conduct expected of me?
– Regulatory references
The Conduct Rules in detail
What are the risks to you?
– Internal disciplinary action
– FCA breach reporting
– FCA sanctions
– What else you should be aware of?
Quiz
Features
– Designed by Experts
– Compatible on multiple devices
– E-Learning modules available offline
– Tailor any module to your needs
– Trackable testing & administrative tools
– Bespoke implementation on our LMS or yours
Why financial services need to be regulated?
– Why do we need financial markets?
– Malfunctioning markets
The UK Framework
– The UK and the financial services sector
– The Financial Conduct Authority (FCA)
– Check your understanding
How does the FCA function?
– Supervision
– Enforcement
– Rule making
– Global aspects
– Check your understanding
Key regulatory themes
– High level principles
– Culture and governance
– Conflicts of interest
– Senior management arrangements, systems and controls (SYSC)
– Conduct of business
– Resilience
– Financial crime
– Check your understanding
How does this affect me?
– Culture and governance revisited
– Conflicts of interest revisited
– Financial crime revisited
– Enforcement case studies
– Check your understanding
– Final thought of this section
How a firm implements the regulatory framework
– Lines of defence
– Role of the compliance function
– Breach reporting
– Check your understanding
Quiz
Conclusion
– What you have learnt
– Key points
– Recap
Why financial services need to be regulated?
– Why do we need financial markets?
– Malfunctioning markets
The UK Framework
– The UK and the financial services sector
– The Financial Conduct Authority (FCA)
– Check your understanding
How does the FCA function?
– Supervision
– Enforcement
– Rule making
– Global aspects
– Check your understanding
Key regulatory themes
– High level principles
– Culture and governance
– Conflicts of interest
– Senior management arrangements, systems and controls (SYSC)
– Conduct of business
– Resilience
– Financial crime
– Check your understanding
How does this affect me?
– Culture and governance revisited
– Conflicts of interest revisited
– Financial crime revisited
– Enforcement case studies
– Check your understanding
– Final thought of this section
How a firm implements the regulatory framework
– Lines of defence
– Role of the compliance function
– Breach reporting
– Check your understanding
Quiz
Conclusion
– What you have learnt
– Key points
– Recap
Why financial services need to be regulated?
– Why do we need financial markets?
– Malfunctioning markets
The UK Framework
– The UK and the financial services sector
– The Financial Conduct Authority (FCA)
– Check your understanding
How does the FCA function?
– Supervision
– Enforcement
– Rule making
– Global aspects
– Check your understanding
Key regulatory themes
– High level principles
– Culture and governance
– Conflicts of interest
– Senior management arrangements, systems and controls (SYSC)
– Conduct of business
– Resilience
– Financial crime
– Check your understanding
How does this affect me?
– Culture and governance revisited
– Conflicts of interest revisited
– Financial crime revisited
– Enforcement case studies
– Check your understanding
– Final thought of this section
How a firm implements the regulatory framework
– Lines of defence
– Role of the compliance function
– Breach reporting
– Check your understanding
Quiz
Conclusion
– What you have learnt
– Key points
– Recap
Why financial services need to be regulated?
– Why do we need financial markets?
– Malfunctioning markets
The UK Framework
– The UK and the financial services sector
– The Financial Conduct Authority (FCA)
– Check your understanding
How does the FCA function?
– Supervision
– Enforcement
– Rule making
– Global aspects
– Check your understanding
Key regulatory themes
– High level principles
– Culture and governance
– Conflicts of interest
– Senior management arrangements, systems and controls (SYSC)
– Conduct of business
– Resilience
– Financial crime
– Check your understanding
How does this affect me?
– Culture and governance revisited
– Conflicts of interest revisited
– Financial crime revisited
– Enforcement case studies
– Check your understanding
– Final thought of this section
How a firm implements the regulatory framework
– Lines of defence
– Role of the compliance function
– Breach reporting
– Check your understanding
Quiz
Conclusion
– What you have learnt
– Key points
– Recap
The Bigger Picture – Financial Crime
– Gain insights into the effects of financial crime
What is Money Laundering?
– Money Laundering
– What’s the Big Deal?
– The Crime versus the proceeds of crime
– How criminals might launder money
– Using the financial services industry to launder money
What Is Terrorist Financing?
– Learn about Terrorist Financing and its effects on the economy
Prevention
– The global approach
– UK criminal offences
– The Money Laundering Regulations
– The role of the UK Financial Conduct Authority
FCA Regulated Firms – high level framework
– Make certain appointments
– Conduct Risk Assessments
– Have policies and procedures in place
– Books and records
– When firms get it wrong
Customer Due Diligence and Ongoing Monitoring
– Purpose
– When to apply CDD
– Conducting CDD
– The ‘Risk-Based’ approach
– Issues and pitfalls
Reporting Suspicious Activity
– The legal requirement
– What does ‘Knowledge or Suspicion’ mean in Practice?
– Reporting to the Nominated Officer
– What you need to know
What is my personal liability?
– My personal liability
– Managing these risks
Quiz
80% Pass Mark
Conclusion
– Recap
– Downloadable Certificate
Introduction to Financial Crime
Introduction to Market Abuse
– Introduction
– Check your understanding
The Civil Regime – Introduction to the various offences
– Various offences
– What instruments are in scope?
– Check your understanding
Insider Dealing
– What is Insider Dealing?
– What is inside information?
– Some examples of inside information
– What constitutes insider dealing?
– Being in possession of inside information
– Check your understanding
Unlawful Disclosure of Inside Information
– What is unlawful disclosure of inside information?
Market Manipulation
– What is market manipulation?
– Types of market manipulation
– Check your understanding
The UK Criminal Market Abuse Framework
– Introduction
– Criminal Insider Dealing
– Criminal market manipulation
– Check your understanding
An Investment Firm’s typical response to Market Abuse
– Introduction
– Governance, systems and controls framework and risk assessments
– Market Abuse Risk Assessment
– Responding to specific market abuse incidents
– Check your understanding
The FCA’s approach to Market Abuse
– The role
– Supervision, Prevention and Detection
– Enforcement and prosecution
– Communications to firms
– Personal Conduct
– Bringing it all together
Quiz
– 80% Pass Mark
Conclusion
– Recap
– Downloadable Certificate
Introduction to Cyber Security
Key concepts in Cyber Security
Gaining access to systems – tools of the trade:
Malware
– Virus
– Key Stroke Loggers
– Ransomware
– Trojan Horses
– Denial-of-services Bots/Botnet Software
– Backdoors/Backdoor Agents
– Spyware
– Adware
– Phishing Software
– ATM Malware/Cash Point Malware
– Hacking
– Social Engineering
Types of Cyber Crimes
Phishing
– Email Phishing
– Spear Phishing
– Business Email Compromise/Whaling Attacks/CEO Fraud
– Smishing and Vishing
– Angler Phishing
Spoofing
– Account Takeover and Identity Theft
– Insider Threats
– Distributed Denial of Services Threats (DDoS)
– Ransomware Attacks
– Unauthorised Access and Data Breaches
Quiz
80% Pass Mark
Conclusion
Recap
Downloadable certificate
Key Points
Introduction to Cyber Security
Key concepts in Cyber Security
Gaining access to systems – tools of the trade
Malware
– Virus
– Key Stroke Loggers
– Ransomware
– Trojan Horses
– Denial-of-services Bots/Botnet Software
– Backdoors/Backdoor Agents
– Spyware
– Adware
– Phishing Software
– ATM Malware/Cash Point Malware
– Hacking
– Social Engineering
Types of Cyber Crimes
Phishing
– Email Phishing
– Spear Phishing
– Business Email Compromise/Whaling Attacks/CEO Fraud
– Smishing and Vishing
– Angler Phishing
Spoofing
– Account Takeover and Identity Theft
– Insider Threats
– Distributed Denial of Services Threats (DDoS)
– Ransomware Attacks
– Unauthorised Access and Data Breaches
A day in the life of two unsuspecting cybercriminal targets
Typical scenarios
Key learnings
Quiz
80% Pass Mark
Conclusion
Recap
Downloadable certificate
Introduction to Cyber Security
Key concepts in Cyber Security
Gaining access to systems – tools of the trade
Malware
– Virus
– Key Stroke Loggers
– Ransomware
– Trojan Horses
– Denial-of-services Bots/Botnet Software
– Backdoors/Backdoor Agents
– Spyware
– Adware
– Phishing Software
– ATM Malware/Cash Point Malware
– Hacking
– Social Engineering
Types of Cyber Crimes
Phishing
– Email Phishing
– Spear Phishing
– Business Email Compromise/Whaling Attacks/CEO Fraud
– Smishing and Vishing
– Angler Phishing
Spoofing
– Account Takeover and Identity Theft
– Insider Threats
– Distributed Denial of Services Threats (DDoS)
– Ransomware Attacks
– Unauthorised Access and Data Breaches
A day in the life of two unsuspecting cybercriminal targets
Typical scenarios
Key learnings
Cyber Security and the Law
Risks and Personal Liability
Quiz
80% Pass Mark
Conclusion
Recap
Downloadable certificate
Introduction to Cyber Security
Key concepts in Cyber Security
Gaining access to systems – tools of the trade:
Malware
– Virus
– Key Stroke Loggers
– Ransomware
– Trojan Horses
– Denial-of-services Bots/Botnet Software
– Backdoors/Backdoor Agents
– Spyware
– Adware
– Phishing Software
– ATM Malware
– Hacking
– Social Engineering
Types of Cyber Crimes
Phishing
– Email Phishing
– Spear Phishing
– Business Email Compromise/Whaling Attacks/CEO Fraud
– Smishing and Vishing
– Angler Phishing
Spoofing
– Account Takeover and Identity Theft
– Insider Threats
– Distributed Denial of Services Threats (DDoS)
– Ransomware Attacks
– Unauthorised Access and Data Breaches
Quiz
80% Pass Mark
Conclusion
Recap
Downloadable certificate
Key Points
Introduction to Cyber Security
Key concepts in Cyber Security
Gaining access to systems – tools of the trade
Malware
– Virus
– Key Stroke Loggers
– Ransomware
– Trojan Horses
– Denial-of-services Bots/Botnet Software
– Backdoors/Backdoor Agents
– Spyware
– Adware
– Phishing Software
– ATM Malware
– Hacking
– Social Engineering
Types of Cyber Crimes
Phishing
– Email Phishing
– Spear Phishing
– Business Email Compromise/Whaling Attacks/CEO Fraud
– Smishing and Vishing
– Angler Phishing
Spoofing
– Account Takeover and Identity Theft
– Insider Threats
– Distributed Denial of Services Threats (DDoS)
– Ransomware Attacks
– Unauthorised Access and Data Breaches
A day in the life of two unsuspecting cybercriminal targets
Typical scenarios
Key learnings
Quiz
80% Pass Mark
Conclusion
Recap
Downloadable certificate
Introduction to Cyber Security
Key concepts in Cyber Security
Gaining access to systems – tools of the trade
Malware
– Virus
– Key Stroke Loggers
– Ransomware
– Trojan Horses
– Denial-of-services Bots/Botnet Software
– Backdoors/Backdoor Agents
– Spyware
– Adware
– Phishing Software
– ATM Malware
– Hacking
– Social Engineering
Types of Cyber Crimes
Phishing
– Email Phishing
– Spear Phishing
– Business Email Compromise/Whaling Attacks/CEO Fraud
– Smishing and Vishing
– Angler Phishing
Spoofing
– Account Takeover and Identity Theft
– Insider Threats
– Distributed Denial of Services Threats (DDoS)
– Ransomware Attacks
– Unauthorised Access and Data Breaches
A day in the life of two unsuspecting cybercriminal targets
Typical scenarios
Key learnings
Cyber Security and the Law
Risks and Personal Liability
Quiz
80% Pass Mark
Conclusion
Recap
Downloadable certificate
Introduction
– Why the firm is registered with the SEC
– Form ADV
– Fiduciary Obligations to Clients
Compliance Framework
– The Importance of Policies and Procedures
– Examples of Typical Policies and Procedures
– The SEC’s Anti-fraud Provisions
– The Chief Compliance Officer
– Conflicts of Interest
– Code of Ethics
– Check Your Understanding
Providing Advisory & Investment
– Suitability
– Best Execution
– Aggregation & Allocation
– Cross Trades
– Proxy Voting
– Custody
– Additional Controls
– Check Your Understanding
Marketing & Advertising- Suitability
– What is Advertising
– Restrictions
Disclosures to Clients & Investors
– Brochure Rule
– Form CRS
– Client Agreements
– Paying Others to Solicit New Clients
– Privacy
– Check Your Understanding
Reporting to the SEC
– Form ADV
– Annual Updating Amendment
– Other than Annual Amendments
– Form PF
– Form CRS
– Financial and Disciplinary Information
Financial Crime
– Insider Trading
– Material Non-public Information
– Market Manipulation
– Money Laundering
– AML Red Flags
– Bribery
SEC Supervision
– How the SEC Supervises the Industry
– Managing Communications with the SEC
– SEC Examinations
– Concluding a SEC Examination
– Enforcement
– Common Issues in Enforcement Actions
Quiz
– 80% Pass Mark
Conclusion
– Key Points
Introduction
– Why the firm is registered with the SEC
– Form ADV
– Fiduciary Obligations to Clients
Compliance Framework
– The Importance of Policies and Procedures
– Examples of Typical Policies and Procedures
– The SEC’s Anti-fraud Provisions
– The Chief Compliance Officer
– Conflicts of Interest
– Code of Ethics
– Check Your Understanding
Providing Advisory & Investment Services to our Clients
– Suitability
– Best Execution
– Aggregation & Allocation
– Cross Trades
– Proxy Voting
– Custody
– Additional Controls
– Check Your Understanding
Marketing & Advertising
– What is Advertising
– Restrictions
Disclosures to Clients & Investors
– Brochure Rule
– Form CRS
– Client Agreements
– Paying Others to Solicit New Clients
– Privacy
– Check Your Understanding
Reporting to the SEC
– Form ADV
– Annual Updating Amendment
– Other than Annual Amendments
– Form PF
– Form CRS
– Financial and Disciplinary Information
Financial Crime
– Insider Trading
– Material Non-public Information
– Market Manipulation
– Money Laundering
– AML Red Flags
– Bribery
SEC Supervision
– How the SEC Supervises the Industry
– Managing Communications with the SEC
– SEC Examinations
– Concluding a SEC Examination
– Enforcement
– Common Issues in Enforcement Actions
Quiz
– 80% Pass Mark
Conclusion
– Key Points
Introduction
– Private Fund Advisers
– Common Deficiencies & Compliance Issues
Conflicts of Interest
– Adviser obligations
Fees and Expenses
– Understanding the SEC’s Concerns with Fees and Expenses
– Allocation of Fees and Expenses
– Operating Partners
– Valuation
– Monitoring Fees and Expenses
Material Non-public Information
– Supervision of the markets
– SEC Requirements
– Code of Ethics Rule
Enforcement Actions relating to Exam Findings
– What do OCIE’s observations mean?
– Tangible Case Studies
– Key Takeaways
Quiz
– 80% Pass Mark
Conclusion
– Key Points
– Downloadable Certificate