Compliance for Banks - Regulatory Structure, Rules and Requirements

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

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