About Conduct Supervision
Conduct Supervision oversees the way in which regulated entities design their products and services as well as the way in which they manage their relationship with consumers. By setting up a regulatory framework that secures appropriate customer protection, the Function ensures that clients of financial services are treated fairly, honestly and professionally by regulated entities.
The Financial Promotion and Risk Assessment Team (FinPro) deals with conduct matters on a cross sectoral basis i.e. investments; insurance and banking sectors. The work carried out from a supervisory aspect mainly focuses on the following areas:
- Take responsibility for and supporting Conduct Supervision's top management in assessing the policy impact of new/revised applicable EU Directives and/or Regulations;
- Ensuring that the necessary updates and amendments are made to the Conduct of Business Rulebook on an ongoing basis and as required;
- Review cross-sectorial Financial Promotions of applicable Regulated Persons and action on any uncompliant marketing material;
- Create and implement a risk-based review of Financial Promotions of applicable Regulated Persons;
- Coordinating the collation of Conduct Related Data on a cross-sectorial level (Banking, Insurance & Investments) as well as the analysis of such information to identify conduct related trends to assess any potential conduct risk; and
- Taking responsibility for coordinating industry replies in relation to Conduct of Business Rulebook queries and queries from other regulatory bodies.