Conduct Rules for Non-Executive Directors (NEDs)

NEDs are an important part of a firm's governance and provide independence and oversight. In addition to complying with the statutory and fiduciary duties, NEDs in financial services have regulatory obligations.

The Conduct Rules set the standard of personal conduct for everyone in financial services. NEDs are subject to higher standards and a higher level of accountability than others in the firm.

Our Conduct Rules for Non-Executive Directors (NEDs) course outlines which conduct rules apply to NEDs.

About this Course

This SCORM-compatible course is part of our FCA Compliance Library.

The library is available in the Skillcast Standard plan for larger companies or Skillcast Basic plan for those with under 50 learners.

Learning Objectives

This course will prepare your employees to:

Understand how the Senior Managers and Certification Regime (SM&CR) applies to NEDs
Understand when a NED may become the holder of a Senior Manager Function
Recall the Conduct Rules that apply to you as a NED
Explain how the Conduct Rules apply in practice
Describe how you will comply with the Conduct Rules in your role
Describe when the Prudential Regulation Authority (PRA) or Financial Conduct Authority (FCA) might take action for non-compliance with the Conduct Rules

Course outline

Welcome

What are the Conduct Rules for NEDs?

- NEDs are treated differently under SMCR

The Senior Managers & Certification Regime

- What are the Conduct Rules?

Individual Conduct Rule 1: Integrity

- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 1: Key takeaways

Individual Conduct Rule 2: Due skill, care & diligence

- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 2: Key takeaways

Individual Conduct Rule 3: Cooperation with regulators

- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 3: Key takeaways

Individual Conduct Rule 4: Customers' interests

- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 4: Key takeaways

Individual Conduct Rule 5: Market conduct

- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 5: Key takeaways

Individual Conduct Rule 6: Consumer Duty

- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 6: Key takeaways

Senior Manager Conduct Rule 4: Disclosures to regulators

- You decide: Is it a breach?
- Senior Manager Conduct Rule 4: Key takeaways

Handling breaches

Serious consequences

- In the news: Regulatory repercussions

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 30-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.