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Financial Promotions – The FCA’s Conduct of Business Sourcebook (COBS)

LGCA
19
May

Financial Promotions – The FCA’s Conduct of Business Sourcebook (COBS)

by LGCA
 
117 people viewed this event.

Digital financial promotions are the public’s window into the soul of a company. How a firm presents itself tells not just customer but regulators whether the business believes in following its obligations under the Financial Conduct Authority (FCA) rulebook and Advertising Standards Authority Codes. Looking at promotions covered by the FCA COBS rules (esssentially; investments, pensions and life assurance), this course seeks to examine and simplify the various rules that firms need to follow, using a range of examples that illustrate different aspects financial organisations must communicate in a “clear, fair and not misleading” way. 

Price £699.00 + VAT

Course Syllabus

1. The real world

  • Review ordinary law, good taste and company procedures

  • Advertising Standard Authority (ASA) Codes of advertising practice

2. Financial promotions and client communications regulation

  •  Legislative framework, defining and regulating promotions

  • Learning about the main excluded communication categories

  • Understanding and defining promotions

  • Financial Conduct Authority (FCA)’s powers

3. The FCA rule book

  • Finding the rulebooks and learning to time-travel – changes over the last few years

  • FCA Principles and their application to promotions

  • Scope of application of COBS 4

  • Examine parameters of non-promotional & image advertising

  • Clear, fair & not misleading – its meaning

  • Describing risk and the prominence and font-sizes required

  • Restricted expressions – What you can and can not include

  • Requirement that dictate the promotions must be ‘easily identifiable’ – What are they?

  • The compulsory and optional requirements to disclose the identify of the firm, regulator & Financial Service Compensation Scheme (FSCS)

  • Explain comparisons and pricing claims

  • Overview of Tax information and required warning

  • Analyse past, simulated and future performance – presentation, rules and risk warnings

4. Digital Media Issues

  • Understanding FG 15/4 and social media issues not previously dealt with

  • Requirement of venue ‘neutrality’ and standalone compliance

  • Adopting a Pay-per click & search engine optimisation

  • Understand modern day website issues

  • How to deal with unsolicited e-mails? (if requested)

5. Basic systems and controls including records

Learning Objectives

  • Appreciate FCA’s powers with regard to promotions

  • Learn the basics of financial promotion regulation by both FCA and ASA

  • Learn small tweaks that make the difference between compliant and non-compliant

  • Gain appreciation of the environment in which compliance regulation operates, including marketing

  • Identify and apply basic risk management strategies

Who is the course suitable for?

This course is suitable for marketing departments, product technical professionals involved in promotion, compliance and risk. It is also suited to senior managers responsible for promotions.

Trainer

Adam Samuel

 

Date And Time

19-May-2020 - 09:30
- 16:30
 

Location

 

Venue

The London Institute of Banking & Finance
 

Event Category

Compliance Skills
 
 
 

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