aci presentation elac - lbma · • aci online fx global code exam continuous learning and...
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ACI Presentation ELACGlobal Precious Metals Code
Supporting ethical conduct in financial markets
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Supporting ethical conduct in financial markets
MEMBERSHIP
ETHICAL CONDUCT
EDUCATION "In” “Since 1955, ACI Financial Markets Association (ACI) has represented the interests of individuals in professional
trading, broking, operations, regulatory and compliance activities in global financial
market”
ACI Financial Markets Association
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ACI Values – Global relevance
ACI is the world’s leading industry association of financial market professionals,with a proud and illustrious history promoting ethical market conduct
through membership, education and guidance on best practices
ACI Financial MarketsAssociation
ACI core values:
Membership Individual market participants represented across more than
60 National Associations globally
Education Accredited, portable qualification and certification of professional
standards to market participants worldwide
Ethical Conduct ACI members are expected to maintain the highest
ethical conduct in adherence with global codes of conduct relevant to them
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ACI provides an essential suite of education products to support members and organisations to learn, understand, adopt and promote best market practices and adherence to Codes of Conduct
ACI Financial MarketsAssociation
Certificates• ACI Dealing Certificate Exam• ACI Operational Certificate Exam• ACI FX Global Code Certificate Exam• ACI Online FX Global Code Exam
Continuous learning and self-certification• ACI ELAC – e-learning attestation and certification to provide ongoing understanding of
industry developments, competence and adherence to codes of conduct• ACI ELAC also include the FX Global Code and the UK Money Markets Code
Specialist and higher education• ACI Diploma in-depth knowledge and guidance (Certified Market Professional
Qualification)
ACI Education
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• Simple access to a training and certification tool which is continually refreshed
• Expert content – not just yes/no answers but Market Practice Scenarios with
complex outcomes reflecting the Global Precious Metals Code, market and
current developments
• Benchmarks and peer ratings for constructive educational use among teams
• Increased compliance burden with more codes to update – Significant burden to
manage in-house is resolved by ACI ELAC
• Senior Management know the staff are receiving the very best training available
ACI Financial MarketsAssociation
ACI ELAC – E-Learning, Attestation and Certification
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Online, configurable and interactive
training and testing portal, providing
institutions with a framework to
demonstrate (and communicate)
that all staff are up-to-date with the
latest codes of conduct, industry
standards and best practice
guidelines applicable to their
industry and role.
ACI Financial MarketsAssociation
ACI ELAC – Adhere Continuously To Relevant Codes
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ACI Financial MarketsAssociation
ACI ELAC – Bringing Codes To Life
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ACI Financial MarketsAssociation
ACI ELAC – Self-Assessment Questions
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ACI Financial MarketsAssociation
ACI ELAC – Market Practice Scenarios
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Conclusion referencing relevant Codes of Conduct
Full explanation with result
Compare individual response with peersIdentify ‘grey areas’
ACI Financial MarketsAssociation
ACI ELAC – Scenarios Apply Knowledge in Real Life
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Maintain Green PAR score to
demonstrate and communicate that
you are up-to-date with industry
standards
Compare performance against
industry ‘peers’
See how far you have progressed in
your PAR session
Organisation
Senior management
Teams
Individuals
ACI Financial MarketsAssociation
ACI ELAC PAR – Personal Accreditation Rating
Highly configurable ‘rating’
functionality monitors and
measures individual, team,
regional and overall ‘adherence’
against client-defined PAR
‘benchmarks’.
Configurable:
• Frequency of PAR sessions
• % of codes ‘tested’
• Spread re: questions v cases
Clear, real-time oversight of
adherence of individuals and
across teams:
• Observe change over time
• Identify training gaps
• Granular reporting for senior
management/regulators
• Supports SM&CR
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Demonstrates and communicates
adherence
Supports senior management
accountability and culture change
Identifies conduct ‘risk’ with measures
to mitigate risk
ACI Financial MarketsAssociation
ACI ELAC PAR – Powerful Reporting, Sophisticated MIS
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Control number and frequency of PAR
sessions e.g. longer ‘introductory’ PAR
session to bring users up to speed with
process and practice
ACI Financial MarketsAssociation
ACI ELAC PAR – Set-Up of Sessions
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ACI Financial MarketsAssociation
ACI ELAC – Continuous Content Creation & Feedback
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ACI Financial MarketsAssociation
Universal
Transparent Raise Standards
Proportionate
ACI – Enhancing knowledge and ethical culture