Financial Promotions Workshop

The Financial Conduct Authority (FCA) imposes significant requirements on authorised firms with respect to their communications with clients. As well as the over-arching requirement for communications to be fair, clear and not misleading, there are detailed rules governing those communications which are defined as Financial Promotions.

This course provides a comprehensive introduction to the regulatory obligations relating to Financial Promotions, in particular those relating to investment services covered by the Conduct of Business (COBS) rules. It considers the definition of a Financial Promotion and what it means for a promotion to be fair, clear and not misleading. It outlines the rules relating to Financial Promotions for retail clients, as well as the regulator’s expectations regarding use of social media and the need for systems and controls for the approval of promotions.

This module is suitable for all staff.

1. Introduction
   
   
2. Definitions and Background

• • What is product governance?
  • What is the purpose of the rules?
  • The link to the Consumer Duty

3. Product Design

• • Key obligations on product manufacturers
  • Managing conflicts of interest
  • Understanding the target market
  • Relevant findings from the FCA Product Governance Review

4. Product Testing

• • Scenario analysis
  • Charging structures
  • Relevant findings from the FCA Product Governance Review

5. Governance

• • Oversight and control
  • Product approval and review
  • Relevant findings from the FCA Product Governance Review

6. Distribution

• • General requirements
  • Procedures and measures

7. Conclusion
   
   
8. Assessment