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.

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Introduction to UK Financial Regulation

About this Course

Available as part of our FCA Compliance Library.

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

Structure

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

Audience

Audience

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

Design

Design

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

Compatibility

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.

Tailoring

Tailoring

Fully customisable on Skillcast Portal CMS.

Translation

Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

Localisation

Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

FCA Courses Library

Our FCA Course library of over 60 training modules covers everything from high-level and conduct of business standards to thematic topics, including treating customers fairly.

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