Anti Bribery and Corruption - Searchlight Insurance Training

Anti Bribery and Corruption

Thematic reviews and continuing enforcement actions against brokers and insurers have shown that bribery and corruption remains a high FCA priority.

“Given strong regulatory focus and previous publications on anti money laundering and anti -bribery and corruption we expected firms to have taken more action to ensure their controls reduced the risk…..” FCA thematic review 13/9 Oct 2013

The risk remains not prosecution but regulatory enforcement for weaknesses and repeated failures to demonstrate adequate robust controls and governance.  These cases also suggest what the FCA’s wider proactive and subjective supervision looks like in practice.

This intensive and participative three hour workshop provides an update on recent developments and suggests how insurers and brokers should be responding

Level: n/a

Duration: 0.5 day(s) CII CPD Hours: 3
     

WORKSHOP OBJECTIVES

Explore the regulatory expectations of anti bribery and corruption within operational risk management and overall governance

Learn the insights from recent and significant regulatory enforcement actions

Outline the components of risk and outcomes based anti bribery and corruption procedures

Provide benchmarks against which to assess the effectiveness of your policies, procedures and controls

WORKSHOP CONTENT

The FCA’s approach to financial crime, and the priority given to bribery and corruption

Revising the UK Bribery Act 2010 and the US Foreign and Corrupt Practices Act

The insights  from recent enforcement actions: where are have policies , procedures and controls been considered to be inadequate – often without any evidence of criminal activity

Differentiating between policies, procedures and controls; and avoiding the common pitfalls

Determining focussed appropriate and risk based training

Effective and robust governance, oversight and assurance

Risk assessment: reviewing the appropriateness and robustness of your own policies, procedures and controls