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Conduct Rules: Understanding Your Responsibilities

7 March 2016 is the date by which all employees falling within the scope of the Senior Manager and Certification Regimes must be trained on the content and application of the Conduct Rules.

There are nine Conduct Rules in total, divided into two groups. The five Individual Conduct Rules apply to a broad range of staff (including those in Senior Manager and Certified Functions). The four Senior Manager Rules apply only to Senior Managers.

The FCA and Conduct Rules

The FCA has made it clear that simply notifying employees about the rules is not enough.

Firms must provide “suitable training” that focuses on how the rules apply to employees. The training must also provide “a deeper understanding of the practical application of the specific rules which are relevant to [an individual’s] work.”

Our new Conduct Rules course is designed to meet these requirements and is suitable for all those covered by the regime, as it includes an optional Senior Manager strand. The course provides an overview of the new IAR and places the Conduct Rules within the wider IAR context. It also includes information on the new breach notification regime.

Each of the Conduct Rules is discussed in turn, and is accompanied by examples and a range of practical scenarios that illustrate its application.

The course can be tailored to reflect your firm’s own IAR approach and business profile, and to ensure coordination and consistency with other conduct and values-related messages.

It is also suitable for the broader employee population, who must be trained on the Conduct Rules by the second IAR deadline of 7 March 2017.

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