European Institute of Management and Finance | Financial Promotions, Digital Media, Product Governance and Appropriateness
59516
product-template-default,single,single-product,postid-59516,woocommerce,woocommerce-page,woocommerce-no-js,ajax_fade,page_not_loaded,,columns-4,qode-child-theme-ver-1.0.0,qode-theme-ver-6.7,wpb-js-composer js-comp-ver-4.12,vc_responsive

Financial Promotions, Digital Media, Product Governance and Appropriateness

Financial Promotions, Digital Media, Product Governance and Appropriateness

 

Professionals need to know how financial promotions in a digital era work both commercially and in terms of regulation. Behind a promotions problem, firms commonly find a product governance issue.  Financial businesses selling investment products, particularly complex ones, using a non-advised process, need to understand when and how to carry out appropriateness testing and what to do with the results. This two-day workshop looks at all three crucial topics for financial services in Cyprus.

 

The workshop looks at the compliance aspects of all types of adverts from old-fashioned newspaper and poster advertisements to websites and modern digital media, as well as covering the Cyprus Advertising Regulation Organization’s Code.  MiFID 2 and the delegated legislation made under it will provide the core compliance for all three elements of this workshop.

 

 

Training Objectives

 

By the end of the programme, participants should be able to:

  • apply the rules contained in MiFID 2 and Article 44 of MiFID Org Regulation to all types promotions
  • appreciate the role played in advertising by the Cyprus Advertising Regulation Organization’s Code, ordinary law and good taste
  • identify an image advert or non-promotional communication
  • disclose risks involved in investments
  • understand the core systems and controls and risk management needed for financial promotions
  • identify the key elements of product governance work and the MiFID rules on the subject
  • decide when to carry out an appropriateness test
  • determine how to carry out an appropriateness test
  • deal with negative or incomplete results of such a test

 

 

Training Outline

 

Introduction

  • Materials covered
  • Definition of a promotion
  • MiFID Principles
  • Article 44 rules on financial promotions
  • Examples of the law, good taste, internal procedures and the application of the Advertising Code away from MiFID

 

MiFID 2 and Article 44

  • Image adverts
  • Fair, clear and not misleading
  • Disclosure generally and risks
  • CFD risk warnings
  • Meaning of prominence
  • Comparisons, pricing claims and tax
  • Past, simulated and future performance

 

Digital media

  • Particular promotional issues with social media
  • Search engine optimisation
  • Websites
  • Disclosing how to complain
  • Other internet issues as requested
  • Dealing with customer reactions online including identifying complaints

 

Product governance basics

  • Identification of the target market
  • Designing products
  • Stress testing
  • Determining distribution methods
  • Supplying material to intermediaries and customers
  • Ongoing review

 

Governance and systems for financial promotions, digital media and product governance

  • Governance
  • Risk management
  • Records
  • Product management information

 

Appropriateness

  • When appropriateness testing is required
  • Meaning of non-advised and products covered
  • Questioning and methods
  • Risk warnings and their impact on whether to accept business
  • Record-keeping

 

 

Training Style

 

This programme consists of an interactive presentation of the relevant rules and good practice with questions and comments to and from the participants, interrupted by a large number of practical examples, including views of historic and current promotions and customer interactions with firms on social media.

 

 

CPD Recognition

 

This programme may be approved for up to 10 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

 

Professionals requiring CPD units to meet the education requirements for CySEC licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Financial Regulation, are advised to consider training subjects in categories that indicate CPD training in Financial Regulation.

 

 

Who Should Attend

 

The programme is ideal for:

  • Compliance Officers and Staff
  • Marketing and Sales Executives and Staff
  • Technical specialists involved in product development
  • Risk managers
  • Lawyers and legal professionals
  • People generally interested in financial products