Conduct Rules
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have released a set of high-level standards regarding the behaviour of individuals working within a financial services organization. These standards or Conduct Rules seek to increase individual accountability for potential misconduct within regulated institutions across a wider span of job functions.
All employees subject to the Conduct Rules should be aware of the fact that the rules apply to them. In addition, the employees should take reasonable steps to verify how these rules influence their professional activities.
Conduct Rules can be initiated and completed for:
- Senior Managers
- Certifications
- Other Individuals within the Organization
Conduct Rules Manager
The Individual records of employees subject to Conduct Rules systematically populate the Conduct Rules Manager on a scheduled basis. Conduct Rules Manager can be used to send out notifications to the relevant employees regarding a review process. An employee signing-off a review process is taken as indication that they understand the applicability of, and will adhere to, Conduct Rules.
From the Conduct Rules Manager page, a Process Administrator can:
- View an existing Conduct Rule record.
- Initiate a Conduct Rules review by selecting Initiate in the Actions column next to the Individual's record.
- Initiate the Review process for all employees subject to the Conduct Rules by selecting Initiate All.
- Send Reminder emails to all, or selected, Individuals who have Active/Pending Self- Declarations.
- Monitoring Self-Declarations: Reports the status of Conduct Rules reviews (Outstanding, Completed, etc.)
