Benefits
What the Industry Needs
- Visibility to clients and shareholders that behavioural improvements are implemented
- A Code recognised and supported by regulators and central banks around the world
- To demonstrate support, leadership and proactive approach to public domain and regulators
- Public Relations benefits with shareholders and clients
- Significant measurable, achievable and timely significant increase in market participants’ awareness
- A global code that can sit alongside and reinforce any code of conduct
- A solution to mitigate operational risk under Basle III
- A strong and effective adherence tool for all individual market participants, and demonstrate MIS
What can the ELAC Portal do for me?
- Provides a high value, market standard training portal on FICC-related conduct issues, at comparatively low-cost (both versus alternative forms, and versus regulatory fines/investigations), conserving energy, time and financial resources by reducing expenditures on consultants and lawyers
- Enables continuous education to wholesale markets staff, fulfilling their interests and requirements
- Matches the in-house training with the training provided externally (reducing risk of inadequate coverage), and supporting existing in-house codes, policies and compliance/ethics training
- Drives individual understanding of globally accepted practice with respect to ethical issues in the market
- Increases credibility of your front office and back office staff in the eyes of your leaders, colleagues, clients, regulators, board of directors, the media and the public
- Provides ownership of responsibility for conduct at individual level and as part of the first line of defence supported by globally accepted exams, and assurance at the second and third lines of defence
- Gives opportunity for strong contribution to the improvement within the industry on various matters, with the ability to strongly influence the future direction of the industry
- Reduces potential Pillar II Capital requirement, and facilitates BIS Single Code Framework
- Covers important aspects of the FCA, FSB and potentially FEMR requirements