Demonstrating Compliance Culture & Governance in Financial Services
May 15 2014

Demonstrating Compliance Culture & Governance in Financial Services

Ensure your firm’s culture and governance arrangements are ready to be tested by the regulator

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Ensure you can answer the regulator's questions about culture and governance arrangements in your firm by attending this interactive training day.

Why attend?

With the new and more intrusive regulatory model, directors, non-executives and approved persons will need to answer more questions about how they manage their firm’s culture.

This course provides practical, hands-on insights into how firms can respond to the regulator's concerns in a manner that simultaneously supports the commercial needs of the business.

  • Ensure your firm's culture and governance arrangements are ready to be tested and examined by the regulator
  • Gain tools and methodologies to define, measure and demonstrate culture, ethics and values
  • Understand regulator expectations of approved persons holding significant influence functions
  • Discover how to succeed in SIF interviews under the regulator's more intrusive approach
  • Make sure you can meet the demands of the regulator's SYSC requirements

Your Trainer

Charles Meade-King is a solicitor and compliance professional with over 25 years experience in the financial services industry, including roles at board and senior executive level for a life company, bancassurer and a national IFA. Charles has also advised numerous businesses on Financial Services Authority regulatory issues and developments, and how to modify and adapt their strategy and procedures accordingly.

He has many years of practical compliance and regulatory experience and Charles can turn this in to helpful, constructive messages for industry practitioners and has successfully presented at a range of industry seminars on regulatory matters in both the UK and abroad.

Charles is member of the Law Society, a Member of the Chartered Institute for Securities & Investment and a Director and Council Member of the Association of Professional Compliance Consultants.


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Thursday, 15th May 2014

Introduction to the course
  • Outlining the objectives and format of course
Regulatory update: the new structure and the impact on governance and culture
  • The move to "twin peaks" regulation - the PRA and the FCA
  • Understanding the scope of new regulatory powers
  • The reality of outcomes-focussed regulation and the credible deterrence strategy
  • The International and EU implications
Defining culture in a regulatory context: outlining expectations
  • What precisely does the regulator mean by culture?
  • What does the regulator require by way of "cultural change"?
  • Remuneration Code and the importance of leadership: examining the regulator's position on the drivers of culture
  • Aligning culture with the best interests of customers
  • How does this fit with other regulatory initiatives, such as Treating Customers Fairly (TCF)?
Meeting regulator expectations with compliance governance
  • What does good governance look like from the regulator's perspective?
  • The regulator's expectations of non-executive directors, directors and other senior management
  • Responsibilities of Approved Persons who hold Significant Influence Functions: how is the regulator's approach to the approved persons regime developing?
  • Meeting the demands of the regulator's Senior Management Arrangements, Systems and Controls (SYSC)
  • Examining the importance of risk management, controls and the role of governance
Interactive case study: Avoiding costly shortcomings in compliance governance

In this session, attendees will be presented with a compliance governance case study, highlighting the areas where a firm has fallen short of the regulator's expectations. This will be followed by an interactive discussion on the key takeaways and how to avoid these pitfalls and overcome the challenges of achieving best practice in your own business.

Lunch break
Achieving a compliance culture: processes and practical steps
  • How to communicate, measure and improve your culture in accordance with the regulator's expectations
  • Tools and methodologies to enable meaningful measurement of integrity, values and ethics
Demonstrating your compliance culture to the regulator
  • Are you ready to have your firm's governance arrangements and culture tested and examined by the regulator?
  • Transforming the words, plans and actions into demonstrable proof
  • Examining how to respond to likely queries
Interactive case study: Culture in practice: identifying and addressing areas for improvement

In this session, delegates will be presented with a culture case study and will be given the opportunity to identify the negative and positive aspects of a firm's compliance culture, before an interactive discussion to draw out the actions required to address the shortcomings. Areas for discussion include:

  • How to develop a culture that is both commercially successful and regulator-appropriate
  • The steps taken to turn intentions into accomplishments
  • Consideration of drivers, benchmarks and appropriate measurements
Summary and conclusions
  • Overview of what has been covered
  • Conclusions
  • Any outstanding Q&A
Close of course

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