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Risk, Regulation and Compliance

TREATING CUSTOMERS FAIRLY: CULTURE FRAMEWORK OVERVIEW

Essential information Event code: 0010 Duration: 1 day (9.30-5.00) Delegate fee: £650.00 Early bird: £585.00 Member: £585.00 Early bird Member: £520.00

(all prices are exempt from VAT) Date: 25 March

Introduction and overview

Since it first introduced the TCF initiative in 2005, the FSA has been consistent in saying that it expects firms to embed TCF into the core culture of the business. To enable it to assess whether this is happening in practice, the FSA has developed a ‘TCF Culture Framework’, which facilitates a review of the main drivers of behaviour within a firm. The Culture Framework is now incorporated into the regular ARROW visits that the FSA carries out. This half-day programme will give participants an appreciation of how the FSA applies the Framework and an opportunity to reflect on the implications for their firms. At the end of the programme the participants will know what ‘embedding TCF’ really means, how the FSA will assess whether their firm’s culture implies any risks to TCF and the areas that the firm may need to address.

Aims and objectives

� To enable participants to gain an appreciation of the FSA TCF Culture Framework and how it will be applied in practice by FSA supervisors.

� To enable participants to form a view on where the greatest risks to TCF might lie within their firm and how they might seek confirmation of their views

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Who should attend?

� Compliance managers tasked with applying the principles of TCF

� Delivery channel managers who are responsible for embedding TCF in their sales process and in the culture of their teams

� Anybody who needs to understand the concept of embedding TCF and the use of the FSA TCF Culture Framework will find this course of benefit. This programme is especially useful for senior executives and non-executive directors to enable them to build their awareness.

� TCF project managers and project team members, TCF ‘champions’, compliance personnel, internal audit staff, are more likely to benefit from one of our longer programmes.

Learning outcomes

Participants will learn:

� what influences behaviour in organisations;

� how the FSA will use management information and other available data to carry out an initial analysis of the culture of their firm (from a TCF perspective);

� how the FSA will obtain the additional information it needs;

� the six behavioural drivers that the FSA assesses and how it match these to their findings and identifies potential risks to TCF.

Programme agenda

The workshop consists of a half-day classroom session.

� The ‘big picture’ – the move from rules to principles-based regulation

� The consumer – customer outcomes

� Management information and evidence

� Issues, risks, outcomes and the Culture Framework

� Applying the Culture Framework

� Scoring TCF risks

� Lessons learned and implications. Next steps

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Programme leader

Mike Simpson

Michael has worked in the financial services sector since the mid 1980s and has a wealth of experience of sales, sales management, training and development, and ‘compliance’ in the regulated environment. Following the introduction of training and competence regulation, Michael moved into consultancy, where he designed numerous T & C schemes and the supporting training and development initiatives for many of the largest firms of the day. His work in this area progressed into assisting firms to complete remedial action following regulatory intervention.

More recently, Michael has specialised in advising firms on Treating Customers Fairly and the application of the Culture Framework. Clients greatly appreciate his depth of knowledge, understanding and practical application of the subject.