Bankhall Compliance Update

Charlie Edwards Regional Manager – Consultancy Services

Compliance Update

• TCF

• FSA thematic work

• GABRIEL

• Bankhall support – ‘showing now’ or ‘coming soon..’

TCF, TCF and more TCF

FSA’s enhanced strategy for small firms continues into 2009

Next area of FSA focus – South East Sequence of events:

FSA road show

1 hr Mini Assessment

Potential FSA follow up visit TCF Update – Members’ feedback from FSA visits

December TCF deadline - Will you meet this?

• ‘Challenge Yourself’ Checklists now available online• Checklist for each TCF consumer outcome• Now including tailored checklists for Sole Traders • TCF update – Members’ feedback from FSA

assessments• TCF ‘business as usual’ from January 2009

FSA’s current thematic work

• TCF Related Projects:

- Quality of advice processes

- Pensions

- Payment protection insurance / Protection insurance

- Controls over ARs

• Non TCF Projects:

- Mortgage fraud

- Regulatory returns

GABRIEL

• System problems experienced – FSA apologises for difficulties

• All firms should now have had contact from the FSA

• Compliance Bulletins - September 08 & October 08

• Reporting changes– Exempt CAD firms – some changes including

quarterly reporting for some items– Non MiFID firms / Mortgage GI firms – no material

changes– BIPRU firms – no change

Bankhall Support ‘Showing Now’ or ‘Coming Soon’…• Data Security Guide

• New Technical Guides*– Exchange traded funds– Structured products– Variable annuities– QROPs– Updated Business Protection guide – now including share purchase

protection calculator.

• Suitability Letter Generator– Corporate investment letter now available– Revised pension letters coming soon

* Access to Technical guides may be dependent on membership package

The Knowledge Forum- Review of 2008

• Over 190 Courses delivered • Over 1800 members attended• Over 2600 registrations via www.bankhallonline.com• Excellent feedback • Over 90% of attendees found courses informative• 86% found the courses fulfilled learning objectives• 93% would recommend courses to colleagues

Testimonials- What You Said….

IHT & Trusts - Zurich “Excellent Course – Very useful” Pearson Jones

Business Protection – Friends Provident “Very Good” Lighthouse Services

Introduction to Supervision- Bankhall “Enjoyed the Course, trainer was excellent” Boolers

HR1/ Equity Release- Just Retirement“Very useful, concise and informative” Mortgage Advice Bureau

The Knowledge Forum 2009

• 2009 will see wider subject and topics to choose from• More Qualification Courses• Wider regional coverage• Continued easy registration process• Directed Email Marketing• Enhanced Competence Tools• Increased Marketing

Qualifications- Mini survey…

To assess the range of qualifications you would be interested in receiving training for in 2009, please indicate using your key pads buttons.

Please indicate your top two choices for the following qualification areas:

• Certificate Qualifications• Diploma Qualifications• Advanced Diploma• Specialist Exams

Certificate Qualifications

1st Choice

• Press 1. CFP – (All Inclusive Modules) (CII)• Press 2 CF2 Investments & Risk• Press 3. CF8 Long Term Care (CII)• Press 4. CeFA (All Modules) (IFS)• Press 5. CeRER- Regulated Equity Release (IFS)• Press 6. CeRCC-Regulated Customer Care (IFS)• Press 7. CeRCH-Regulated Complaints (IFS)• Press 8. FA1 Life Office Administration (CII)• Press 9. FA2 Pensions Administration (CII)

Certificate Qualifications

2nd Choice

• Press 1. CFP – (All Inclusive Modules) (CII)• Press 2 CF2 Investments & Risk• Press 3. CF8 Long Term Care (CII)• Press 4. CeFA (All Modules) (IFS)• Press 5. CeRER- Regulated Equity Release (IFS)• Press 6. CeRCC-Regulated Customer Care (IFS)• Press 7. CeRCH-Regulated Complaints (IFS)• Press 8. FA1 Life Office Administration (CII)• Press 9. FA2 Pensions Administration (CII)

Diploma Qualifications

1st Choice

Press 1. J01 Personal Tax

Press 2. J02 Trusts

Press 3. J03 Tax & Legal Aspects of Business

Press 4. J04 Pension Funding Options

Press 5. J05 Pension Income Options

Press 6. J06 Investment Principles, Markets & Business

Press 7. J07 Supervision in Regulatory Environment

Diploma Qualifications

2nd Choice

Press 1. J01 Personal Tax

Press 2. J02 Trusts

Press 3. J03 Tax & Legal Aspects of Business

Press 4. J04 Pension Funding Options

Press 5. J05 Pension Income Options

Press 6. J06 Investment Principles, Markets & Business

Press 7. J07 Supervision in Regulatory Environment

Advanced Diploma Qualifications

1st Choice

Press 1. AF1 Personal Tax & Trust Planning (CII)

Press 2. AF2 Business Financial Planning (CII)

Press 3. AF3 Pension Planning (CII)

Press 4. AF4 Investment Planning (CII)

Press 5. AF5 Financial Planning Process (CII)

Press 6. Diploma for Financial Advisers (DipFA) (IFS)

Advanced Diploma Qualifications

2nd Choice

Press 1. AF1 Personal Tax & Trust Planning (CII)

Press 2. AF2 Business Financial Planning (CII)

Press 3. AF3 Pension Planning (CII)

Press 4. AF4 Investment Planning (CII)

Press 5. AF5 Financial Planning Process (CII)

Press 6. Diploma for Financial Advisers (DipFA) (IFS)

Specialist Exams

1st Choice

Press 1. IMC – Investment Management Certificate (CFA)

Press 2. CFP – Certified Financial Planner (IFP)

Specialist Exams

2nd Choice

Press 1. IMC – Investment Management Certificate (CFA)

Press 2. CFP – Certified Financial Planner (IFP)

Assessing Competence

Do you utilise Bankhall On Line Exams facility?

• Press 1. Yes, use it for annual competence testing• Press 2. No - Don’t Use• Press 3. Not aware of the facility

Assessing Competence

For members who indicated they don’t use Bankhall Online Exams for annual testing, what systems do you use.

Press 1. Assess Online System (CII)

Press 2. Testsmart -Worksmart Solutions

Press 3. Manual Testing (in-house arrangements)

Press 4. Other System

Thank You