Training Objectives

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

• Understand the key MiFID and MiFID-related provisions on financial promotions and appropriateness testing
• Read promotions and spot their strengths and weaknesses
• Apply the concepts of standalone compliance and regulatory media neutrality
• Apply “fair, clear and not misleading” to a variety of different media
• Identify the types of promotion that carry the lowest compliance risk
• Understand the basics of risk management in relation to promotions and digital media
• Know when they have to carry out appropriateness testing
• Understand the appropriateness testing conditions required
• Know what to do with the results of the appropriateness testing
• Understand the key MiFID and MiFID-related provisions on product governance
• Identify the positive and negative target markets of investment products and services
• Determine the types of distribution that would not be suitable for certain types of products
• Gather key management information about the success or otherwise of the governance process

Training Outline

Financial promotions – digital to billboards

1. The real world

• Digital applications
• Ordinary law, good taste, company procedures
• CARO Code

2. Financial promotions and client communications regulation

• General principles CARO and Art 24 MiFID
• Article 44 MiFID Org Regulation
• Defining promotions
• Non-promotional communications
• Image adverts

3. The MiFID part

• Clear, fair & not misleading –its meaning
• Describing risk
• ESMA & CYSEC Measures on CfDs
• Prominence
• Comparisons and pricing claims
• Past, simulated and future performance
• Names –firm, regulator, compensation scheme
• Advertorials –clear identification
• Testimonials

4. Social & Digital Media Issues

• Social media and customer communications
• Pay per click & Search engine optimisation
• Website issues

5. Complaints issues

• Disclosure of how to complain on your website
• Identification of social media complaints

6. Risk Management

• Some basic risk management

Appropriateness Testing

• Core idea
• When do you have to do it?
• Products and circumstances
  • The assessment
  • The impact of the result
• Risk warnings and their impact on whether you should accept the client

Who Should Attend

The programme is ideal for:

• Board directors and chief executives
• Compliance officers and managers
• Marketing people
• Risk managers
• Product technicians

Training Style

The training style is interactive involving a combination of discussions and presentation, group work and case studies (taken from real-live examples). Participants are encouraged to share their opinions from their different perspectives.

CPD Recognition

This programme may be approved for up to 5 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.