Certification Regime, Code of Conduct and T&C scheme reviews


Certification Regime and Code of Conduct

If you are classified as a SMF and carry the prescribed responsibility for either the Certification Regime or the Code of Conduct you may wish to ensure that the steps that have been implemented by your firm represent reasonable steps taken by you to discharge your Duty of Responsibility.

We will be happy to take a look at any of the elements of your approach to ensure that you can have the peace of mind that you have covered what the regulator is seeking

If you would like peace of mind then why not ask for a Certification or Code of Conduct Review?  We will look at all the following aspects for you and grade your approach Green, Amber or Red.

 Certification Regime

  • Cultural fit
  • Governance
  • Reporting & Controls
  • Certification Issue
  • Scope
  • Competence Approaches (T&C)
  • Remuneration & Reward
  • Recruitment & Referencing

 Code of Conduct

  • Training
  • Understanding
  • Sustainability
  • Cultural Fit
  • Breach Reporting


Training & Competence Reviews

If you prefer we can conduct a review of your T&C scheme as a stand alone exercise. Ensuring your T&C scheme remains fit for purpose is a key to ensure that it continues to:

  • Support your business objectives and deliver shareholder value
  • Minimise your conduct risk
  • Retain and attract staff
  • Deliver consumer outcomes to the required standards

When was the last time you undertook a detailed review of your T&C scheme? Do you know why you have chosen to shape the scheme the way you have and have you explored alternative ways open to you? If you do not regard your T&C scheme as an ‘enabler’ to help deliver your business results it is definitely time for a review. If you are happy that your scheme does enable your business then why not regards a review as an opportunity to benchmark and fine tune your approach for possible better results.

Scheme reviews can be undertaken for your scheme as a whole or we can undertake a specific thematic review for you.  The objectives of the review are agreed up front and an outline plan including timeline and budget agreed.

The review will normally include interviewing selected staff, reviewing procedures and supporting documents and evidence. The review report will summarise key recommendations and will normally be presented at a face to face meeting.

All reviews undertaken are underpinned against the regulatory standards required, Financial & Legal Skills Partnership good practice guidance and our own best practice framework developed through over 20 years working in this field.

Thematic reviews can be on any topic you choose.  Some examples include:

  • Effectiveness of your supervision model
  • Alignment with company culture
  • Effectiveness of CPD
  • Connectivity to consumer outcomes
  • Alignment with conduct risk
  • Governance model

All reviews are undertaken on the basis that we have no vested interest in the outcome.  If invited we are happy to work with you to define actions needed to resolve our recommendations.  These may or may not require further resource from us as mutually agreed.

We are able to review progress you have made either by specifically looking at progress against recommendations or conducting a further review.

We recommend that you undertake a review of your T&C scheme every 2 years as part of your governance


About Author

Avatar photo

I provide consultancy and support to UK based financial services companies helping them to design and implement practices that develop their people, achieve their business goals and comply with the needs of the regulators. I specialise in T&C, competence assessment and conduct which may be of particular interest to companies as they address the requirements of the Certification Regime and Code of Conduct requirements. My specialities include: Knowing you have a business to run Valuing your people as your greatest asset Keeping things simple, practical and relevant Engaging the business to promote ownership Ensuring Compliance is a natural by product of doing things well

Leave A Reply