An Introduction to the Regulatory Environment

• The Financial Services and Markets Act
• Regulators, exchanges and clearing houses
• The role of The FSA and associated legislation
• FSA objectives and enforcement powers
• Examples of FSA enforcement
• ARROW
• FSA authorisation and Scope of Permitted Business
• FSA Rule Book: the structure
• European Union legislation

Understanding Risk and Control and the Compliance Culture

• Understanding the responsibility placed on senior management through “Senior Management Arrangements, Systems and Controls” (SYSC)
• The Apportionment and Oversight responsibility
• Identifying and managing business risks
• The need for effective controls to mitigate the business risks
• The Compliance Oversight function
• The Compliance Manual and monitoring programme
• “Whistle blowing” - The Pubic Interest Disclosure Act

Introduction to the FSA's Conduct of Business Rules

• Client Classification;
• Provision of information to clients;
• Financial Promotions;
• Dealing and Managing;
• Customer Reporting;
• Insider Dealing;
• Market Abuse, Misleading statements and practices.

Anti-Money Laundering Training

• The Primary and Secondary Laws relating to money laundering prevention
• Examples of regulatory enforcement
• What is money laundering?
• Offences and penalties
• Requirements of the legislation
• The Know Your Client obligation
• Awareness and training
• The role of the MLRO
• Suspicion reporting
• Best practice: JMLSG and FATF