Introduction to UK Financial Regulation
NEDs are an important part of a firm's governance and provide independence and oversight. In addition to complying with the statutory and fiduciary duties, NEDs in financial services have regulatory obligations.
The Conduct Rules set the standard of personal conduct for everyone in financial services. NEDs are subject to higher standards and a higher level of accountability than others in the firm.
Our Conduct Rules for Non-Executive Directors (NEDs) course outlines which conduct rules apply to NEDs.
- 45 Minutes
- All staff
- Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Learning objectives
- Understand how the Senior Managers and Certification Regime (SM&CR) applies to NEDs
- Understand when a NED may become the holder of a Senior Manager Function
- Recall the Conduct Rules that apply to you as a NED
- Explain how the Conduct Rules apply in practice
- Describe how you will comply with the Conduct Rules in your role
- Describe when the Prudential Regulation Authority (PRA) or Financial Conduct Authority (FCA) might take action for non-compliance with the Conduct Rules
What can you expect your employees to learn?
Welcome
What are the Conduct Rules for NEDs?
- NEDs are treated differently under SMCR
The Senior Managers & Certification Regime
- What are the Conduct Rules?
Individual Conduct Rule 1: Integrity
- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 1: Key takeaways
Individual Conduct Rule 2: Due skill, care & diligence
- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 2: Key takeaways
Individual Conduct Rule 3: Cooperation with regulators
- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 3: Key takeaways
Individual Conduct Rule 4: Customers' interests
- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 4: Key takeaways
Individual Conduct Rule 5: Market conduct
- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 5: Key takeaways
Individual Conduct Rule 6: Consumer Duty
- Examples of breaches
- You decide: Is it a breach?
- Individual Conduct Rule 6: Key takeaways
Senior Manager Conduct Rule 4: Disclosures to regulators
- You decide: Is it a breach?
- Senior Manager Conduct Rule 4: Key takeaways
Handling breaches
Serious consequences
- In the news: Regulatory repercussions
Summary
Affirmation
Assessment
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