Key Details

Duration: 60 Mins

Delivery method: Inhouse

Overview

The responsibilities of an Approved Person under the regulatory regime are not to be taken lightly. A sound working knowledge of both the Statements of Principle and the Code of Practice for Approved Persons is essential in the current climate, wherein the regulator is aiming to flex its regulatory muscle...

The responsibilities of an Approved Person under the regulatory regime are not to be taken lightly. A sound working knowledge of both the Statements of Principle and the Code of Practice for Approved Persons is essential in the current climate, wherein the regulator is aiming to flex its regulatory muscle on any individual found to fall foul of these rules.

This briefing provides a succinct refresher of the responsibilities in the Code, and in the Statements of Principle, and will leave Approved Persons and those who manage them, feeling confident they are fully apprised of their duties.

Who is this for?

The course is aimed at any Approved Person (including Directors and Non-Executive Directors), anyone involved in or responsible for hiring potential Approved Persons and making the application on their behalf to the regulator. It is also relevant for Senior Managers and compliance personnel who need to ensure that the firm's staff are compliant with the requirements of the Approved Persons Regime.

The briefing will cover:

  • Approved Persons - controlled functions
  • The Fit and Proper Test
  • Statements of Principle and Code of Practice for Approved Persons
  • The Approved Persons Regime: Significant Influence Function Review
  • The Walker Review
  • The proposed changes to the APER regime
  • Extending the Approved Persons regime to individuals in a parent company who have a significant influence over the firm
  • Clarification of the role of Non-Executive Directors who can expect more scrutiny in the future
  • Examples of enforcement actions against Approved Persons

After attending this course, participants will be able to:

  • Demonstrate the behaviours expected of an Approved Person by reference to the Code of Practice for Approved Persons
  • Analyse whether the actions of an Approved person fall foul of the Code of Practice
  • Detail the proposed changes to the Approved Persons Regime, and the implications for their firm