Fit & Proper (suitability) requirements: a road to compliance
In financial institutions, key persons must be fit & proper. Fit and proper requirements are one of the cornerstones of the prudential regime, destined to ensure the integrity of the financial sector. Their application requires the intervention of multiple stakeholders (HR, compliance, etc.) and transparent communication with regulators. Regulated entities often face difficulties when implementing them, and these difficulties have increased as the NBB strengthened the fit & proper requirements at the end of 2022.
The objectives of this training are to:
- understand the “Fit & Proper” requirements;
- know how to apply these requirements in practice;
- equip the participant with a very concrete and step-by-step plan to compliance.
Total price *
Members: € 300
Non-members: € 330
Partners/ BZB: € 330
Incompany: tailor-made, prices on request
* Price: service in the context of continuing professional training, exempt from VAT
CPD Hours
Banking: 3h general
Insurances: 3h general
Consumer credit: 3h general
Mortgage credit: 3h general
Compliance:
3h
Continuing Professional Development
Available dates
18/10/2024 - 09:00u - 12:30u - Fit & Proper (suitability) requirements: a road to compliance
Please let us know you're interested in this training should there be no date available, the planned date does not suit you and/or this session is full. As soon as about 5 people are registered on the interest list, we will propose a new course date. Your registration on the interest list is free of charge and without any obligation.
Target group
The training course can be taken by various target groups which are active in the following functions, among others:
- Management;
- Compliance;
- Legal;
- HR;
- Procurement;
- ...
Required prior knowledge
Basic level training: this training requires no prior knowledge and covers the basics of the subject.
Programme
CONTENT
- Introduction
- Prudential rules vs. rules of conduct
- Main prudential rules
- Ratio legis of the Fit & Proper requirements
- Associated norms
- Regulatory framework
- EU and Belgian legislation
- NBB Manual
- The reform of 2022: the main changes
- Overview of the requirements
- Main principles
- Scope of application
- Suitability criteria
- Suitability policy
- Diversity policy
- Induction and training policy
- Assessment and reassessment
- Reporting
- A pragmatic approach
- Step-by-step road to compliance
- Critical approach and prospects
- Key takeaways
PRACTICAL INFORMATION
- Duration: ½ day of training (3 class hours)
- Hours: 09:00 to 12:30
- Location: This training will be given online
- Language: This training will be given in English
- Additional information: How do you start the webinar? You will receive a login and password by email to access our platform. In the platform you will find a link. By clicking on the scheduled date the webinar will start via Webex.
To be granted CPD hours, it is important to enter your own name and surname, follow the entire training day and answer the questions suggested by the trainer. Do not follow the training with several people on the same PC.
Methodology
You follow a ‘Live webinar’ digitally in a group. It is ‘learning-apart-together’. At an agreed time, the teacher and participants log in to a video conference tool, each from his or her own location and with his or her own computer. Via this tool’s camera, microphone and chat function, there is an opportunity for interaction and feedback, both from the participants to the teacher and vice versa. The teaching material consists as a basis of a presentation via the MyFA learning platform, supplemented with various other items (such as digital syllabus, presentation, audiovisual fragments, etc.).
Training material:
- PowerPoint presentation (slides);
- Fit & Proper Manual (pdf).
Teachers
Thomas Faelli
Compliance & audit
