Approved Persons Responsibilities
Executive Briefing on the Responsibilities of Approved Persons
Comments from delegates
“Very focused, well facilitated session where the course leader clearly knew her subject matter in detail.”
Sales & Marketing Director Paymentshield
“Really clear and well explained. What can sometimes be a boring "necessary evil" became very interesting in the wider context of the economic and political arena.”
RSM, HBOS
“Very good and to the point. The subject was covered in depth with plenty of interaction.”
Director, Rensburg Sheppards
“A highly professional training session with excellent quality content delivered in an accessible and discursive style”Andrew Linnell, Towergate
" Very knowledgeable trainer who gave practical advice." Director, Capita
" A thoughtful critique of the responsibilities of approved persons."
Head of UK Claims, Brit Insurance
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It is essential that those who have Approved Person status understand the FSA’s expectations of them and the Principles they are personally expected to uphold. This is a practical half-day Responsibilities of Approved Persons event developed to help directors within FSA authorised firms gain a fundamental understanding of the high level standards they should meet when conducting their business.
Fully understand what the FSA expects of you and what you signed up to when you applied to become an Approved Person. This event is particularly useful ahead of an FSA ARROW visit as a reminder of responsibilities or as part of the induction for new Approved Persons. Unlike most seminars and courses this event will focus on HOW to comply rather than simply to tell you what the rules say. It is bang up-to-date and allows a review of the apportionment of the new Controlled Functions.
The event is tailored so the case studies reflect your business and any specific issues you wish to address, for example, your own structure and organisation or how you ensure that you are up to date with regulatory developments.
Who should attend?
Approved Persons will be those undertaking a number of different, FSA defined roles within firms such as:
Executive and Non Executive Directors
Chief Executives
Finance Directors and Managers
Compliance Oversight
Risk Managers
Operations Managers
How delegates will benefit
This workshop will enable you to grasp the fundamentals of the FSA’s high-level standards and in particular to:
 Recognise what the FSA expects of you in terms of the way you carry out your responsibilities
Review their allocation of Controlled Functions
Debate the way in which systems and controls are allocated and overseen
Apply the Principles for Approved Persons in a business situation
Understand what the Principles are and what would constitute a breach of those principles
Identify the process to keep documents supporting the governance of the company up to date (and often discovering they are not!)
Training Approach
This workshop is uses a combination of trainer input, knowledge sharing with interactive syndicate work and case studies. The pace is quick and groups frequently review their current approach to matters of Governance, Structure, Allocation of responsbilities during the sessions. Group size is kept to a maximum of 12 to facilitate debate amongst the delegates.
Workshop leader: Bob White
Bob’s has an established record overseeing regulatory compliance within the asset management and financial services sectors. He has lead firms’ ARROW visit preparation on many occasions. He became an independent consultant and trainer in October 2007 and has since worked with a number of CTP clients carrying out ARROW visit preparation...more
Programme Outline
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Session
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Aim
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Content
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| High Level Standards |
To review the High level Standards and the importance the FSA attach to them |
- The fit of the Sourcebooks
- FSA focus on senior management
- The key role of Systems and Controls
- Common problem areas
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| Controlled Functions |
To know and apply the Controlled Functions required in each firm by the FSA |
- The purpose of the Controlled Functions
- What they are and why they are important
- Case studies applying the functions to typical business structures
- Examine your own allocation of functions - are they right?
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| Approved persons |
The standards Approved Persons should meet and how they apply to your business |
- Principles and code of Practice
- Improper behaviour
- Personal liability
- Case studies -business scenarios that give rise to breaches of principles
- FSA enforcement actions
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| Maintaining approval |
To know what information must be notified to the FSA |
- Range of forms for notification
- Ensuring information is maintained up-to-date
- Maintaining Fitness and Propriety
- Maintaining competence
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To book, discuss your requirements or for further information contact us now...
See also SIF Interview Preparation and Executive Briefing for SIFs
CTP Global - Good Governance: Great Performance
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