All parts of the new Individual Accountability Framework, except for the Senior Executive Accountability Regime (SEAR), will take effect on the 29th of December 2023. From this date, individuals performing Controlled Functions (CFs) must follow the Conduct Standards, and those who don’t could be directly penalised by the Central Bank.
Additionally, firms must provide those individuals appropriate training on the Conduct Standards and how they apply to them in a timely manner on implementation.
CityLearning has two new courses to help ensure your company and your staff meet their obligations regarding the new Conduct Standards. These courses, Conduct Standards (CFs) and Conduct Standards (PCFs & CF1s), will teach your staff how to apply the Standards in their day-to-day roles. It uses case studies, practical examples and scenarios to explain how to follow both the Common and Additional Conduct Standards.
For more information, request a brochure for Conduct Standards (CFs) and Conduct Standards (PCFs & CF1s) or request a demo of this course using the buttons below!
CityLearning’s eLearning training courses have been trusted by major financial institutions, along with other large corporations and organisations such as key government bodies, law firms and many more for 25 years.
Conduct Standards (PCFs & CF1s) offers a practical way of ensuring that your staff are trained and tested in following the Conduct Standards. All test results are recorded for easy verification of compliance training.
Conduct Standards (CFs) is aimed at staff who perform Controlled Functions (CFs) at all regulated financial institutions in Ireland.
The target audience for Conduct Standards (PCFs and CF1s) is staff who perform Pre-approval Controlled Functions (PCFs) or CF1 (ability to influence the conduct of business) at all regulated financial institutions in Ireland.
Each version of Conduct Standards can be tailored to suit different financial sectors, including:
Wholesale Market Brokers
Conduct Standards (CFs) consists of two modules based on objectives covering key aspects of the IAF’s Conduct Standards.
Impact of Individual Accountability & Conduct
The Common Conduct Standards
Conduct Standards (PCFs and CF1s) consists of the two modules described above, plus an additional third module on the Additional Conduct Standards.
The Additional Conduct Standards (PCFs & CF1s)
Rigorous Testing: Spot questions are used throughout these courses to increase user engagement; they either probe to expand on a learner’s existing knowledge of the subject matter or reinforce key learning points. Each module ends in a short quiz and the course ends in a 12 – (Conduct Standards (CFs)) or 16 – (Conduct Standards (PCFs & CF1s)) question test with an 80% pass mark. Questions in the course tests are randomised from a choice of three so that learners may retake without getting the same questions.
Accessibility: These courses contain audio narration throughout.
Glossary of Terms: Unfamiliar terms are linked to this glossary when they are first used in these courses. The glossary can be accessed at any time.
Multimedia Design: These courses get the message across with a mix of text, images, animation and video.
Interactive Content: We design our courses to keep learners engaged and thinking. Conduct Standards contains:
Modular Structure: These courses are broken down into short modules that take less than 15 minutes to complete, so learners can easily finish these courses at their own pace.
Real Life Case Studies: Learners benefit from studying recent case studies that demonstrate the consequences that misconduct can have for themselves, their company, its customers and society.
CityLearning enjoys a longstanding reputation for the highest quality course content. We are committed to continuous improvement and have a well-established Quality Assurance System in place to measure and enhance our performance.
All project personnel are highly experienced in developing generic, customised and bespoke eLearning solutions for our clients.
Our courses are regularly reviewed by Subject Matter Experts and thought leaders in the industry. The content is also reviewed by financial services regulatory consultants in the UK and a leading law firm in Ireland.
CityLearning has been creating eLearning compliance training courses for 25 years. Our courses are accredited for Continuing Professional Development (CPD) by multiple bodies in the UK and Ireland.
We have more than a decade’s experience developing eLearning courses about conduct and treating customers fairly.
In April 2023, the UK’s Prudential Regulation Authority (PRA) fined the former Chief Information Officer (CIO) at TSB Bank plc £81,620 for breaching Senior Manager Conduct Rule 2 (ensure the firm complies with regulatory requirements). The CIO had failed to take reasonable steps to ensure TSB complied with the PRA’s Outsourcing Rules when migrating to a new IT platform in 2018.
This is the first case of an individual being held accountable in the UK for breaching the Senior Manager Conduct Rules, on which the Additional Conduct Standards were based.
Yes, these courses have each been accredited for 1 hour of CPD by the following bodies in Ireland:
Conduct Standards (CFs) should take approximately one hour to complete, and Conduct Standards (PCFs & CF1s) should take 75 minutes.
Conduct Standards are eLearning courses that should be taken online using a Learning Management System (LMS). This can be either our propriety LMS, CityREPORTs, or an LMS already in place in your company.
CityLearning courses are fully SCORM-compliant for easy upload to another LMS.
The cost per user of CityLearning’s eLearning compliance courses covering the new Conduct Standards depends on the number of users taking the courses and whether you take only Conduct Standards or any other courses in addition.
Get in touch with us today for a quote.
Please let us know how many CFs and PCFs/CF1s you have. If you would like any courses in addition to Conduct Standards, please also provide the user number(s) for those courses.
If you are looking at Conduct Standards, you may also be interested in these other courses from CityLearning:
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