The NEW Senior Managers and Certification Regime for GI brokers

Thursday 17th January 2019

A buffet will be available from 5.30pm for a 6pm start
at Pizza Express, Earl Street, Maidstone.

Overview:

A one hour briefing presented by Branko Bjelobaba FCII, FCA Compliance Consultant and CII Accredited Advanced General Insurance Trainer.

Overview:

In response to the 2008 banking crisis and significant conduct failings such as the manipulation of LIBOR, Parliament set up the Parliamentary Commission for Banking Standards (PCBS) to recommend how to improve standards in the banking sector. PCBS recommended a new accountability framework focused on senior management. It also recommended that firms take more responsibility for employees being fit and proper, and that there be better standards of conduct at all levels in banking firms.

Based on these recommendations, Parliament passed legislation in December 2013, leading to the FCA and Prudential Regulation Authority applying the SM&CR to the banking sector. Parliament made further changes to legislation in May 2016, requiring the FCA to extend the regime to all FSMA authorised firms. Significant changes are being proposed that will now take effect from 9 December 2019 with conduct rules applying for the first time ever to ALL staff - do you know what changes you will have to make?

Learning objectives

By the end of this event delegates will have gained an insight into:

• SM&CR proposals for general insurance brokers
• Certification requirements
• Fit and Proper requirements
• Conduct rules
• How individuals will be converted to the new regime

Speaker biography: Branko Bjelobaba FCII

Branko Bjelobaba joined the insurance industry in 1987 and has worked across the sector – for two insurers (General Accident and Pinnacle), a broking group (Oriel), a firm of professional advisors (PricewaterhouseCoopers), and finally, a regulator (the General Insurance Standards Council).

In 2003 he formed Branko Ltd, which is an award winning compliance consultancy with glowing recommendations from clients and a prestigious appointment as an approved British Insurance Brokers’ Association compliance provider. Branko Ltd is also the publisher of the hugely successful series of DIY compliance manuals that have been hailed as “brilliant” by a former Non- Executive Director at the then FSA. He is regularly called upon to write for leading publications, to present to various audiences and has judged the Insurance Age and Health Insurance Awards on a number of occasions. He has an infectious presentation style and has been told on many occasions that he is the only person in the world who can make compliance sound interesting.

Branko was voted Thomson Reuters Compliance Personality of the Year 2012.

Branko qualified as a Fellow of the Chartered Insurance Institute (FCII) in 1994 and holds Chartered status and is also a Member of the Institute of Directors (MIoD). He was appointed a Vice-President of the Chartered Insurance Institute in 2008 (and has non-executive oversight of the UK’s local institute network). He became a Liveryman of the Worshipful Company of Insurers and a Freeman of the City of London in 2002.