High demand leads to further FSA workshops for IFAs

As a result of the ongoing success of workshops run by the FSA for small IFAs, a further programme of 7 workshops has been organised, between January and April 2001, to meet the high levels of demand. Although these popular workshops are specifically designed for small IFA firms, the key issues of recruitment, training and competence, monitoring and risk assessment and complaints handling will be of interest to staff who deal with compliance issues in larger firms as well. The FSA is now opening these workshops up to larger IFA firms. Peter Filmer, the FSAs Head of Training Services, said:

These workshops have proved highly successful, with feedback indicating that IFAs are finding them very useful in improving their understanding of compliance and we are encouraged that many are then making improvements to their processes.

The aims of the workshop are to:

• provide an understanding of the key compliance problems that the FSAs supervision staff identify during visits to small IFA firms regulated by PIA;

• give practical guidance on how to address and avoid those problems; and

• demystify PIAs Rules.

Participants will work through practical case studies with FSA staff who have a wide-ranging experience of compliance issues. Much of the benefit of the workshop will come from the discussion of the case studies with other delegates and with the FSA staff. At the end of the workshop, participants should:

• have a good understanding of how to apply the PIAs conduct of business Rules in their own firm;

• know how to identify and monitor potential risk areas in a small IFA firm; and

• be able to apply that knowledge to their firm.

Notes for editors

1. The workshops will be held at the following locations between January and April 2001.

2. London Canary Wharf 16th January 2001 Glasgow 24th January 2001 Manchester 15th February 2001 Liverpool 16th February 2001 Belfast 5th March 2001 London Canary Wharf 13th March 2001 Exeter 18th April 2001

3. There are a limited number of places at the workshops. Places will be reserved on a first come first served basis. The cost of a place on the Successful Compliance for Small IFA Firms workshop is 170. Places can be booked by calling 020 7066 0752.

4. Small IFA firms are those with between 2-9 financial advisers.

5. The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; the protection of consumers; and fighting financial crime.

6. The FSA aims to maintain efficient, orderly and clean financial markets and help retail consumers achieve a fair deal.