Compliancy Services launches training course

Compliancy Services has today launched its compliance officer training course.

Compliancy Services says the course fills the gap that exists for compliance officers.

It claims the course will enable financial services firms to protect themselves from the risks of Financial Services Authority regulation and provide professional development for their compliance staff.

Around 29,000 firms are directly authorised by the FSA to conduct financial services activities in the UK and the FSA has levied fines of more than £65m on companies for not complying.

Compliancy Services says little commercial training is available for compliance officers.

The new course is designed to help compliance officers do their jobs in a practical manner, focussing on the role of the compliance function and its relationship with the regulator and the firm.

Using e-learning, it enables compliance officers to train at their pace, taking each of the six modules when convenient.

Iain Stephen, managing director of compliancy services for Compliancy Services, says: “Not only does formal training enable firms to protect themselves from the risks associated with FSA regulation, it also offers them a way of developing compliance staff professionally.

“Many firms’ view of their compliance department is based solely on the regulator’s level of focus on a firm. But this narrow approach does not reflect the professional development needs of compliance staff.”