Conflicts of Interest (FCA)

Raise awareness on conflict of interest in the workplace and ensure compliance with the FCA regulation

Key Learning Points:

  • What constitutes conflicts of interest
  • How to identify behaviours that constitute conflicts of interest
  • Are inducements acceptable under conflict of interest
  • How to manage a conflict of interest
  • How to ensure compliance with FCA requirements
Conflicts of Interest (FCA)
Conflicts of Interest (FCA)
Conflicts of Interest (FCA)
Conflicts of Interest (FCA)
Conflicts of Interest (FCA)
Conflicts of Interest (FCA)

Course Overview

This online training course on conflicts of interest highlights the FCA regulation around conflicts of interest and the impact on individuals and firms.

Employees are expected to act fairly and place the interests of their organisation ahead of personal interests in any business transaction.

A conflict of interest occurs where an employee in an official capacity, acts to gain a personal advantage for them or an individual known to them, such as family or a friend.

Course Details

  • Course duration: 40 minutes
  • Immersive online training course
  • Certificate on completion
  • Regular course updates
  • Course can be tailored using Adapt Authoring Tool

Course Contents

This course is broken down into a number of modules to make the information easily digestible.

What is a conflict of interest?
What is a conflict of interest?
A conflict of interest occurs when a decision must be made between personal gain and the best interests of the customer or the company. This topic explores precisely what is meant when referring to a conflict of interest, how it applies to an individual and an organisation. It also examines various scenarios where it is likely to occur within the financial services industry.
Compliance
Compliance
Conflicts of interest are an industry risk that has the potential to undermine the principles of fairness and integrity. To combat this, the FCA has established a framework of how firms should conduct business. This topic looks at Principles for Businesses, the Conduct of Business Sourcebook (COBS) and Senior Management Arrangements, Systems and Rules (SYSC).
Inducements
Inducements
Great care is required when offering or accepting inducements to avoid any compliance breaches or accusations of misconduct. Inducements in the form of payments or non-monetary benefits can cause a conflict of interest. In this topic, learners will see good and bad examples of compliance with the inducement rules within a fictitious organisation.
Hospitality, gifts and bribery
Hospitality, gifts and bribery
Firms must have a clearly defined policy and procedures for determining what constitutes reasonable hospitality, and for authorising the provision or acceptance of gifts and hospitality. Since gifts and hospitality can be considered as bribes, great care is required. This topic looks at various scenarios involving gifts and hospitality and the best practice to follow in order to stay within the law
Personal affairs and company policy
Personal affairs and company policy
A conflict of interest could potentially arise if your work or professional judgement is affected (or, very importantly it is reasonably believed that there is even the possibility that it could be affected) by your personal relationships and financial affairs. This topic explores scenarios which involve personal situations and how to follow company policy to ensure compliance.

Who Should Take This Course?

This eLearning course on FCA Compliance is suitable for all levels of employees of firms regulated by the FCA, including but not limited to:

  • Banks
  • Finance Companies
  • Lenders
  • Credit Card Providers
  • Insurance
  • Accountants
  • Stockbrokers
  • Investment Funds

The Assessment

This course will immerse learners in scenarios that explore conflicts of interests, and ways to avoid or manage the risks. The scenarios involve employees within Investmentise, which is part of the fictional Investmenta Group of companies.

Learners are required to make decisions that increase or decrease the risk of compliance breaches. The challenge is to prevent Investmentise from breaching the FCA's compliance framework. Learners need to score at least 80% to complete the course successfully.

2 Ways of Purchasing

You can purchase our courses individually or for even better value you can purchase the complete range of Compliance, Health and Safety or Performance Management courses in one neat bundle.

1. Individual Licenses

If you buy courses on an individual bases you pay a price per learner, per course per year. You can run these courses on your own LMS if Xapi/SCORM compliant or you can take them.

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2. Complete Bundle

Buy all of the Compliance, Health and Safety or Performance Management courses in one great value package and receive unlimited benefits.

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1. Individual Pricing

Number of Learners Cost (per year)
1 - 10 29 / per learner
11 - 20 25 / per learner
21 - 50 20 / per learner
51 - 100 15 / per learner
101 - 150 10 / per learner
150+ POA

Exchange rates are updated regularly but are only intended as a guide.

2. Complete Bundle Pricing

If you buy all the Compliance, Health & Safety or Performance Management in a complete bundle, all features come as standard, no matter the size of your organisation!

Number of Learners Cost (per year)
1 - 100 30 / per learner
101 - 200 25 / per learner
201 - 300 21 / per learner
301 - 400 18 / per learner
401 - 500 15 / per learner
501 - 750 12.50 / per learner
751 - 1000 10 / per learner
1001 - 2500 8 / per learner
2501 - 5000 6 / per learner
5000 - 10,000 5 / per learner
10,000 + POA
Included Features
  • All courses in our catalogue
  • New courses added regularly
  • Branded, downloadable posters
  • Customise Course Content for Your Team
  • Astute eLearning Platform
  • Regular course updates
  • Dedicated Account Manager
  • Unlimited help desk support

Exchange rates are updated regularly but are only intended as a guide. Prices are based on a 2 year contract.

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Why You Need Conflicts of Interest Training

As per the policies set by the Financial Conduct Authority (FCA), a conflict of interest "occurs when an organisation or an employee with a vested interested becomes unreliable because of a clash between personal and professional affairs".

Conflicts of interest can lead to businesses or individuals to act in a biased manner, affecting decision-marketing. The FCA requires an organisation to manage conflicts of interest fairly, both between itself and its customers and between a customer and another client.

Complying with FCA's recommended framework helps individuals and firms to manage the risks of conflicts of interests. Failure to comply with the FCA framework can lead to enforcement action, which could range from withdrawing authorisation, prohibition and suspension of activities, to winding-up and insolvency order, fines and criminal convictions.

Why You Need Conflicts of Interest Training

FAQ's

If you have any questions that are not covered here, please get in touch.

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When does a conflict of interest occur?
According to the Financial Conduct Authority (FCA), a conflict of interests arises when an individual’s work could be affected by their personal financial matters or a close personal relationship. It could also arise if their work could be affected by a personal interest of your close family or any other close personal relationship with an individual. It becomes significant if any person, internally or externally, might reasonably believe there is a risk of the individual’s actions, or those of a personal associate, being inappropriately influenced.
How to manage a conflict of interest?
As per the FCA Employee Handbook, the Conflict of interests Policy exists to protect employees, the Financial Conduct Authority (FCA), the Payment Systems Regulator (PSR) and the public. Businesses must have policies and procedures in place to avoid conflict of interests occurring in the first place. Members of the board of directors have to sign a conflict of interest policy statements, and if a conflict surfaces, there could be serious consequences.
Can inducements cause a conflict of interest?
An inducement is broadly a payment or a non-monetary benefit which if received by the individual or business, can create a conflict of interest with the business’ own regulatory obligations or those of its clients. As per the FCA regulations, inducements rules are designed to ensure that businesses only act in the interests of their clients and disclose any inducements in a comprehensive, accurate and understandable way.

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