ComplianceServe Updates for Q2: What’s New?

Unicorn Training ComplianceServe

As part of the commitment to ensure our learning content is always up to date, the following courses have been reviewed and updated and new versions have been published to the ComplianceServe library.

Some of these updates are in response to regulatory changes, in which case we strongly recommend that the relevant titles are assigned to learners immediately, to ensure they understand their obligations and responsibilities under the new rules.

Where there has been no change in the relevant legislation, the updates focus on general enhancements to the learning experience and/or the use of new case studies and examples. We recommend that you familiarise yourselves with the updated courses and where they have already been assigned to learners, consider whether target completion dates need to be brought forward. Where a course has already been assigned, your learners will automatically see the latest version of the course in their training plans.

Complaint handling and regulated firms

In response to the new regulations around complaints which come into effect on June 30th 2016, a new version of this course has been released to cover:

  • the extension of the next business day rule,
  • the reporting of complaints and
  • the requirement for firms to send a summary resolution.

Make sure the relevant people in your business update their knowledge to ensure they know how to comply with the new requirements.

Combating market abuse

With new trading platforms, rapidly advancing technology and an ever expanding global financial markets footprint, new forms of market manipulation inevitably follow.

In 2014 The European Commission published new Market Abuse Regulation (MAR), as well as a new Market Abuse Directive (MAD) which becomes applicable to UK firms on July 3rd 2016. An updated version of Combating market abuse has been released to help staff understand their obligations and responsibilities under the new rules.

Bribery and Corruption

There have been no changes in the regulations since our last periodic review so this update focusses on some general enhancements around the regulator’s expectations and around business-wide risk assessment.

Customer Due Diligence

Guidance issued in February 2016 stated that firms should conduct enhanced due diligence (EDD) and ongoing monitoring of situations that present a greater risk of money-laundering. The update includes examples of when this might be applicable.


Policy statement PS15/24 requires that the arrangements regarding Whistleblowing in deposit-takers, PRA-designated investment firms and insurers become far more formalised. This update will ensure that individuals in those relevant firms understand the requirements from both an individual and organisational point of view. The course is still relevant for those in firms where PS15/24 is not yet applicable.

Data Protection Act and Information Security

The new EU data protection framework has been agreed and will be directly applicable in all member states. The new regulation is known as the General Data Protection Regulation (GDPR).

The GDPR will replace the current directive and comes into force in 2018. However, the impact will be significant, hence the course has been updated now to reflect the changes.

Conflicts of Interest

There have been no changes in the regulations since our last periodic review. This update includes additional content emphasizing the regulator’s stance, aligned to the handbook rules and guidance in SYSC (Senior Management Systems and Controls), plus details of a recent fine received by a wealth management firm for failing to identify and manage a conflict of interest. There is also additional content clarifying the regulator’s focus and expectations on what are considered excessive gifts.


Simon Mercer

Simon Mercer

Head of Business Development

Since arriving in the eLearning industry in 2002, Simon has helped to conceive, develop and deliver…

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