Mis-selling and Suitability (APAC)

Programme Scheme : FTS and, Core FAA / SFA CPD

Programme Title Mis-selling and Suitability (APAC)
Programme Scheme FTS and, Core FAA / SFA CPD
Training Provider Thomson Reuters Corporation Pte Ltd
Purpose of Programme

Financial institutions must ensure that their financial advisory representatives conduct business with integrity and professionalism to serve the best interests of their customers and avoid activities that lead to misconduct. This is important not only from a regulatory perspective (avoidance of fines and penalties for the company as well as personal liability for employees) but also to safeguard APAC’s status as a key global financial region and to foster consumer confidence and trust in the financial industry. A firm without robust product governance procedures might misrepresent the terms of a contract or agreement or sell a customer a financial product that is unsuitable for that customer. This inappropriate practice is known as “mis-selling.” Financial services employees must treat customers fairly, cultivate a business built on trust and take proactive steps to eliminate misconduct. An employee providing a customer with financial advice must ensure that recommended products or services are suitable for the customer. Suitability requirements apply to financial services firms. Employees are required to assess whether a product they are attempting to sell meets the customer’s needs and financial situation. Employees need to know how to avoid mis-selling and how to ensure that products they promote meet suitability requirements.

Programme Website https://www.thomsonreuters.com.sg/en/products-services/regulation-compliance-overview/compliance-elearning/enhanced-training-support-financial-institutions.html
Programme Prospectus Click here to download file
Type of Programme E-Learning
Industry Segment Compliance, Financial Planning, Financial Services, General Insurance, Life Insurance, Private Banking and Wealth Management, Retail Banking
Location of Training Singapore
Training Duration/ CPD Hours: Total: 0.5 Hr(s)

Core FAA CPD: 0.5 Hr(s)
Core SFA CPD: 0.5 Hr(s)
Name of Contact Person: Carsten Rosenkranz
Designation Director Sales Risk Corporates, AEM
DID 69738257
Email carsten.rosenkranz@thomsonreuters.com
Skills Category Skills and Competencies Proficiency Level
A. Business Development and Strategy Management A13. Ethical Culture 3
B. Customer Relationship and Stakeholder Management B10. Personal Finance Advisory 3
G. Product, Sales and Market Management G15. Product Advisory 2
H. Risk Management, Governance and Regulatory Compliance H4. Compliance Mindset Development 3
H. Risk Management, Governance and Regulatory Compliance H25. Regulatory Compliance 3

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