Latest News
FSA Events
25/01/10
Set out below are the summary details and links to the FSA's events as notified to the APCC
Seminars
Seminars for Compliance Consultants/Officers, January - March 2010, Edinburgh, London and Manchester
Sessions available are: What does a good firm look like; and General investments. Further information and booking details are available here.
Briefings
ARROW® II breakfast briefings - ask the regulator, February - May 2010, London Limited to a maximum of 10 participants, this is your chance to ask the ARROW team straight questions and get straight answers on any aspect of ARROW® II. Further information and booking details are available here.
CONFERENCES
Insurance sector conference, 18 March 2010, London EC1
This full day conference is an opportunity for the FSA to set out its regulatory priorities for the sector and answer the industry's questions. The conference offers delegates the opportunity to hear from the senior management team at the FSA as well as from senior industry practitioners and wider market commentators. Confirmed FSA speakers/panellists include: Jon Pain, on intensive supervision; Sally Dewar, on Solvency II; and Dan Waters, on conduct risk. Further information and booking details are available here.
Enforcement conference, 22 June 2010, London EC1
A one-day conference exploring the effect of FSA enforcement and how it changes the behaviour of the firms and individuals regulated by the FSA. This conference will evaluate progress against the FSA's credible deterrence objective and examine the role of enforcement in ensuring regulatory compliance. It will include panel discussions and debate around how enforcement action affects the way firms do business, the merits and effectiveness of sanctions in retail and wholesale markets and the priorities for the FSA's Enforcement division in 2010 and beyond. Confirmed speakers include: Hector Sants (Chief Executive, FSA) and Margaret Cole (Director of Enforcement and Financial Crime Division, FSA). Further information and booking details are available here.
WORKSHOPS
Liquidity reporting workshops, January - March 2010, various locations
The FSA recently published new rules on liquidity which put further requirements on firms - including providing the FSA with additional data relating to a firm's liquidity risk. The FSA is offering a series of half-day workshops for basic products and advanced products to help you identify the relevant data items, frequency and submission deadlines that apply to different categories of firms at solo, group and whole firm levels. They will also provide you with the opportunity to learn more about the new data items with particular emphasis on worked examples of how to report typical product types. Further information and booking details are available here.
Risk Management Symposium
Sunday 11 - Tuesday 13 July 2010, St John's College Cambridge
Residential event led by Lyndon Nelson, Director - Risk Management, Financial Services Authority. The event begins on Sunday 11 July with a formal dinner and keynote address from Sally Dewar, Managing Director, Risk Business Unit. It is intended to bring together risk specialists, regulators and industry practitioners to discuss current issues in risk management - such as valuation, stress-testing and governance. To register interest contact kathy.mccall@fsa.gov.uk
For full details of all FSA events please visit: http://www.fsa.gov.uk/Pages/Doing/Events/index.shtml
Other News
01/09/10
What's new
New items recently added to the website include:
Details of the UCIS workshop on 24 September - all delegates should have received their FSA invitation to this event
Details of the authorisation workshop on July 8 in London
Presentation slides from the March forum - available to members only except for the keynote speech
Summary of a meeting with the FSA whistleblower - available to members only
Minutes of the 2010 Steering Council meetings - available to members only
09/07/10
Authorisation Workshop
The workshop held on 8 July primarily focussed on authorisations and what makes a good application pack. In addition Simon Collins gave an update on APCC activities and on enforcement issues following his presentation to the FSA at their own internal enforcement conference.
The workshop was a lively event with over 60 delegates and with many questions posed to the two FSA speakers. The FSA is reviewing its internal processes for this department and the input from this workshop where consultants expressed their views on the impact of the day to day workings of the department will have formed an important part to the FSA's process review. Following this event the FSA is intending to issue a protocol on managing the post-submission process.
The APCC would like to express its thanks to the FSA Permissions Department for providing the two speakers.
The presentation slides from this event are now available to APCC members from the members area of this website.
10/03/10
2010 London Forum
The APCC 2010 London forum took place on Tuesday 9th March.
The APCC's London forum took place on Tuesday 9th March 2010 at Grays Inn. The Compliance Consultants Forum Event is open to all compliance professionals and the event included speakers from the FSA and industry with question and answer sessions on Key Regulatory issues, including:
• a keynote address from the FSA focusing on the intensive supervision strategy for small firms
• developments within the authorisations and permissions department
• financial crime
• the FSA’s compliance consultants training programme
• dealing with FSA enforcement in 2010
• PI insurance for consultancy firms and for their clients
• a report from the chairman of the Association, including professional standards
• the 2010 annual general meeting of the Association
Following the close of the formal part of the event the APCC hosted a networking session at the Cittie of Yorke in High Holborn.
Document: APCC Programme - 9 Mar 2010.pdf
11/11/09
FSA confirms delays in processing applications
The FSA has confirmed to the APCC that there are currently delays both in allocating case officers and in processing applications and variations of permissions.
In a letter dated 6 November the new Head of Permissions Department at the FSA, Sharon Campbell, confirmed that due to the increased volumes of complex applications and the more intrusive approach being adopted by the FSA to these applications the FSA is experiencing delays both in allocating case officers to, and in dealing with, applications and variations of permissions.
The FSA does expect this to be a temporary situation and does appreciate that this is frustrating both for applicants and their advisers. In the meantime the FSA is asking compliance consultants to bear with them during this period.
18/09/09
Half day forum event focussing on institutional issues
Institutional Business - Compliance Consultants Forum
AN OPPORTUNITY FOR COMPLIANCE CONSULTANTS AND EXPERTS TO DISCUSS TOPICAL ISSUES
This half day event was held on October 12, 2009 at the offices of Smith and Williamson, London. The presentation slides for this event are now available from the members area of the APCC website.
We would like to thank Stephenson Harwood, SOCA, Smith and Williamson and the FSA for providing speakers for this event. We would also like to thank Smith and Williamson for provding an excellent venue for the forum.
This consultants forum focussed on issues for consultants who advise institutional clients. The event was open to all compliance consultants and includes:
• presentations on topical regulatory issues, including ICAAP, financial crime and market abuse
• an opportunity to ask questions directly of the speakers
• networking with other professional consultants and meeting representatives of the APCC
A light lunch followed on from the formal part of the forum at which consultants were able to:
• Network with other professional consultants and meet representatives of the Association
• Discuss and debate current issues with other delegates and the speakers
The cost including VAT was £57.50 (£50 plus VAT) for delegates from member firms and/or the Compliance Institute and £115 (£100 plus VAT) for all other delegates.