In August 2020 the FCA announced that solo-regulated firms falling under SM&CR are to tell them whether disciplinary action has been taken against individuals who are not Senior Managers for breaches of the Conduct Rules. This reporting requirement, REP008 means that each solo-regulated firm needs to start recording the disciplinary action it takes against its staff (including contractors, volunteers and temporary staff) for breaches of Conduct Rules. Firms must submit REP008 annually even if there haven’t been any Conduct Rule breaches resulting in disciplinary action.
REP008 submissions follow a line of recent reminders to PIMFA member firms how FCA sees important Conduct Rules and conduct rules training. In August 2019 the regulator’s stocktake report concluded that “many firms were often unable to explain what a conduct breach looked like in the context of their business”. Most recently, in June 2020, the FCA reiterated that “Senior Managers must ensure that Conduct Rules training is effective, so that staff are aware of the Conduct Rules and understand how they apply to them in their jobs.”
Conduct Rules training that meets your needs and regulatory obligations
As the regulator expects firms to have role-specific training in place that provides a high degree of confidence that conduct rule breaches will be identified, a new and different approach to Conduct Rules training is required. But creating your own SM&CR Conduct Rules training in line with the FCA expectations stipulated in COCON 2.3 FCA Handbook takes time. Firms will need to plan, research, design, write, create and deliver practical sessions, with an emphasis on job role-specific training by 31st March 2021!
That’s why PIMFA has partnered with City HR to create a cost effective, ‘Train the Trainer’ workshop and toolkit that takes all the hard work away from you – allowing you to focus on delivery only.
Our unique solution comprises of two distinct offerings:
• Half day ‘Train the Trainer’ virtual workshop which includes an experiential learning session so that you have first-hand experience of the programme and how it can be adapted for your firm. Our faculty of experienced HR professionals and an employment partner specialising in SMCR will explain in detail how you can use our well-designed, easy-to-follow, professionally written training course materials to deliver effective Conduct Rules training to an unlimited number of your staff.
• The toolkit. We provide you with a comprehensive toolkit that includes PowerPoint slides, training notes, SM&CR explainer videos, practical case studies, delegate handouts which can be aligned to your organisation.
This training workshop and toolkit is ideal for firms that want to:
• Feel confident you have delivered a high standard training course in line with the FCA’s requirements
• Train all certified staff on the Conduct Rules by 31st March 2021
• Provide a refresher Conduct Rules training session for senior managers
• Tailor their firms Conduct Rules training to specific staff job roles
• Train an unlimited number of your staff on the Conduct Rules for a single, one off payment
• Receive fully editable training course materials that can be personalised by you for your firm
• Utilise the SM&CR resources that are used in over 30 banks and Building Societies
• Reproduce or copy, at no extra cost, the materials within the toolkit as many times as you require them.*
*You or your firm may not copy the whole or any part of the material for sale or re-distribution
Who Should Attend?
This virtual half-day training workshop is primarily aimed at Human Resource, L&D, T&C, risk and compliance professionals within regulated firms.
Small group sizes & expert trainers
Small group sizes allow a high level of interaction and support. This programme is led by a panel of expert trainers who have delivered this training to nearly 100 firms since SM&CR was introduced.
Meet your Trainers:
CityHR, Chief Executive
Andrea is the Chief Executive of City HR, having joined the Board in 2007. Her background is in both business and people management. She spent 12 years in investment banking in various HR specialist and business partner roles, before founding an HCM consulting firm which was acquired by a PLC. She is the co-Founder of the Guild of Human Resources.
CityHR, Head of Talent
Cindy is Head of Talent Management at City HR and has been a Board Director since Jan 2017. She previously held global HR roles in financial services organisations as well as spending 11 years in consulting. She is passionate about strengthening a diverse talent pipeline into the sector.
Marian is a partner in the Employment Team and Financial Services group at Kemp Little, advising commercial clients, on a range of employment law issues. Her particular expertise is in helping clients in the financial services sector manage their legal risk. She has extensive experience of advising on complex and high value litigation and also advises on the employment law implications and challenges of regulatory regime requirements, including internal and external regulatory investigations, the Approved Persons Regime (APER) and the Senior Managers regime for banks and insurers (SM&CR).