'No Hiding Place' as Accountability Framework deadline looms
Two of the UK’s most prominent financial services training providers, Unicorn and FSTP, are leading the drive to help firms achieve regulatory compliance as the five-month deadline to the commencement of the FCA’s new accountability framework looms.
The new accountability framework for individuals in banks, building societies and credit unions comes into force on 7 March 2016, with even greater consequences and sanctions for non-compliance than ever before.
Earlier this year Unicorn and FSTP joined forces to bring a more targeted and streamlined approach to compliance for FCA regulated firms.
Now Unicorn is adding four new eLearning titles, incorporating FSTP’s award-winning regulatory expertise, to the learning catalogue of their comprehensive compliance training solution, ComplianceServe, to help organisations embed the cultural and behavioural changes demanded by the new framework.
Simon Mercer, Unicorn Product Manager, explains: “The consequences and sanctions for non-compliance are greater than ever. There is no hiding place.”
“Learners have to understand and, most importantly, value the possible implications of their actions in terms of how it affects promotion prospects, earning power, professional reputation and personal pride. This is why compliance should be treated as part of, not in isolation to, an individual’s whole career development plan.”
“These titles are designed to meet the demand for ‘snackable’ chunks of learning that can be digested little and often, for a more pervasive learning experience that supports the goal of continuous learning.”
“The by-product for firms is the benefits it brings to their business both commercially and with regards to regulatory compliance when the FCA calls.”
The four new ComplianceServe titles are An Introduction to the New Banking Regime, An Introduction to the New Senior Managers Regime, The Certification Regime and The New Code of Conduct.
As well as the new online titles, FSTP will continue delivering sector-leading face-to-face elements required by firms across the regulatory framework.
Philippa Grocott, Partner, FSTP, added: “With the pace of change and the increase in intense and intrusive supervision by the regulator, individuals and firms need regulatory support that gets to the heart of the issues and concerns in an engaging and practical way.
“ComplianceServe coupled with FSTP’s years of regulated financial service expertise provide a refreshing approach to tackling compliance understanding in an extremely appropriate way for the changing financial services environment.”
In January 2015 Unicorn’s learning and performance platform, SkillsServe, was ranked as the top LMS for the financial services sector, and fifth overall, in the Top 50 LMSs Report 2015. Unicorn has been creating L&D and compliance solutions for the UK’s ever-changing financial services sector for over 25 years.
FSTP provides first class training and consultancy services across all sectors of the financial services industry. In December 2014 FSTP won the Thomson Reuters 2014 Best Compliance Consultancy Firm Award, voted for by FSTP clients.
For more information about ComplianceServe visit www.unicorntraining.com/complianceserve or call 0800 055 6586 or for further details about FSTP visit www.fstp.co.uk.