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Training Course Summary:

The Financial Services and Markets Act 2000 (FSMA) was implemented on the 1st December 2001 and established the FSA as the sole regulator of the financial services industry. This course provides an overview of the major implications of this act and other regulations impacting on the industry.

By the end of this course you will be able to:

Understand the regulatory framework of the financial services industry.
Appreciate the main rules affecting the conduct of business in the major London markets.
Identify the requirements of the European Union legislation affecting financial services in the UK.
Distinguish the roles of different regulators in different London Markets and Exchanges.

Who Should Attend:

Suitable for those who are looking for an introduction or require an update on key areas of financial service regulation.

Training Course Overview/Content:

The Role and Powers of the FSA

An historic overview
One powerful regulator
Disciplinary powers
Financial Services and Market Act 2000

Regulated and prohibited activities: the difference
Authorisation, exemption and the permission to carry on regulated activities
Penalties for market abuse and disciplinary measures
Offences, injunctions and restitution
The Main Rules and Regulatory Provisions

High-level standards and the approved persons regime
The conduct of business sourcebook: financial promotion, advising and selling, custody and client money, etc.
The market conduct source book and the related code: how to avoid market abuse
The Companies Act and the disclosure of interests in shares
The substantial acquisition of shares and the related regulation
The general principles of the takeover code
Insider dealing: the related regulations with an update on penalties, prosecution and territorial scope
Money Laundering: from the 1993 to the FSA Sourcebook
Different Markets and Exchanges

Key dealing and reporting rules of the major securities and derivative exchanges
Main commonalities and differences between the major regulated markets
The European Union and Financial Services

Relevant EU directives affecting financial services in the UK
The concept of passporting