• University of Exeter Business School
• Module

Regulation, Compliance and Risk Control

Module description

This module is intended for Financial Services Professional Degree Apprenticeship students who want to concentrate on the management aspects of operations from the practical perspective of an investment operation manager. This module has a particular focus on operational impact of UK regulation including, but is not limited to: oversight; control of outsourcers’ reconciliations; and clearing and settlement. Students will develop an understanding of global regulatory trends, initiatives and their impact.

Module aims - intentions of the module

This module aims to provide students with a detailed working knowledge of the UK regulatory environment and a general understanding of regulation in the EU and other international aspects. Students should be able to demonstrate detailed knowledge of operational risk and a general knowledge of other types of risk within an organisation. 

The module also provides students with a detailed knowledge of income collection, custody and corporation actions and a general knowledge of corporate governance, proxy voting and withholding tax plus fund administration. The overall aim is to equip the students with a through awareness of the latest regulatory developments in both domestic and international markets. Students should be able to comment on current or future developments, such as the impact of new regulations on operational issues, or on industry issues such as operational risk, exchange consolidation, the introduction of CCPs, outsourcing or any other subject concerning developing industry practice.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Address key industry developments and corporate governance
• 2. Distinguish between operational risk, systemic risk issues, reputational risk and regulatory risk matters
• 3. Identify where the control function is and how breach of the control is dealt with
• 4. Explain market conduct and insider trading
• 5. Address business continuity or contingency planning
• 6. Recognise oversight and governance in the front office
• 7. Understand examples of corporate actions, withholding tax basics and entitlement calculations with rights issues
• 8. Explain in depth about initial custodian appointments, transitions, stock lending, risks in custody, collateral management and reconciliation

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 9. Demonstrate a detailed knowledge of the UK regulatory environment and a general understanding of regulation in the EU and other international aspects
• 10. Keep up-to-date with current developments and sector relevant legal/regulatory changes

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 11. Demonstrate the ability to recommend and implement practical solutions to a range of risks and issues
• 12. Demonstrate a high-level overview of the role and responsibilities within the institution
• 13. Develop the ability to adapt their approach positively to manage priorities as circumstances change, new tasks need to be done or when business requirements change

Syllabus plan

• Current Industry Regulatory Environment
• Operational impact of UK regulatory framework
• Global regulatory trends, initiative and their impact
• Other major regulatory bodies
• Risks and Controls
• Business Continuity or Contingency Planning
• Asset Servicing and custody

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Defer – as first time

Refer – capped at 40%

Indicative learning resources - Basic reading

Basic reading:

• Global Operations Management (CISI Diploma), Edition 5, Chartered Institute for Securities and Investment.

Key words search

Regulation, compliance, risk control