Day One
Welcome and Introduction
Session 1: The International Challenge
- How to implement global compliance rules
- The Key Challenges to compliance in the global market
- Global market turbulence and its impact on compliance
- Where are the key risks in the compliance arena?
- How do these vary between countries?
- Are there any cultural issues which impact upon the nature
of compliance?
Session 2: Key Compliance Cases and Lessons
from Major Disasters
In this session a series of recent and historic financial cases
will be considered to highlight the importance of compliance issues
within a firm. These will include, but not be limited to, the
following:
- Bankers Trust
- Enron
- Barings
- Abbey
- Citicorp
- Société Générale
In each case we shall consider the key issues and develop
plausible scenarios appropriate for firms. We shall also develop
controls which should be implemented to prevent such an occurrence.
Session 3: Global Rules
In this session we will address the key rules and regulations
applying globally. These will be extended further in the following
sessions:
- The role of BASEL, key papers and compliance
- The relationship to local regulation
- The role of ISDA and the review of documentation
- The role of FATF and its impact on international compliance
- The role of the new European Regulators
- The role of the IFSB
Session 4: The US Rules
- The role of SEC, FED and NASD
- Sarbanes Oxley and its impact on compliance
- The Patriot Act
- Other relevant legislation
Day Two
Session 5: The EU Rules
- The EU Regulatory Framework
- The BIS, EU and CBA
- The key directives and their implementation including
- CRD 4
- UCITS revision
- Markets in financial instruments directive 2
- Market abuse directive 2
- Alternative investment fund managers directive
- Credit for consumers directive
- Solvency II
- Gold Plating
- How to predict what might happen?
- The impact of EU rules on the global marketplace and local
Czech regulation
Session 6: Key Structural Compliance
Requirements
- The role of the compliance officer
- The development of a compliance manual
- The training requirements
- Recording Training and Competence
- Matching skills to roles
- Senior Management roles
Case Study: Develop an outline compliance manual
Session 7: Key Compliance Requirements
- Know your customer
- Firewalls (Chinese walls)
- Insider trading
- Off Market Transaction
- Money laundering deterrence
- High risk customers
- Numbered accounts
- Trusts
- Politically Exposed Persons
Case Study: Consider the relevant cases and design appropriate
scenarios and controls to prevent recurrence
Day Three
Session 8: Key Compliance Requirements
- Advertisements
- Customer documentation requirements
- Front Running
- Churning
- New Business compliance procedures
- Non-Standard Contracts
- Documentation – Retention
- Black Lists
- Staff Dealing Rules
- Outsourcing
Case Study: Consider the relevant cases and design appropriate
scenarios and controls to prevent recurrence
Session 9: Ensuring International Compliance
- The impacts and problems of home host regulation
- How regulation changes throughout the world
- The role of management
- The role of the compliance officer
- The role of internal audit
- The role of external audit
Session 10: The Final Problems
- Software solutions and issues
- Key lessons and solutions
Evaluation and Termination of the Course
