Safeguarding in Financial Services
Course description
We offer this programme on in-company basis only and can deliver it either virtually or in-person in any location worldwide. Contact us to discuss your requirements.
The FCA expects e-money and payment institutions to have robust, documented, and consistently applied safeguarding arrangements that ensure customer funds are protected at all times.
Further demonstrated by the introduction of CASS Chapter 15 as of 7 May 2026, which places payment and e‑money firms under a far more rigorous, investment‑grade set of obligations. With these new rules, the FCA has made it clear that firms must demonstrate stronger governance, improved operational resilience, and a deeper organisational understanding of client money and asset protection.
During this one‑day safeguarding course, delegates will gain a clear practical understanding of how to protect customer funds in line with the EMRs and PSRs. You will learn how to identify relevant funds, apply the correct safeguarding methods, perform accurate daily reconciliations, and recognise and prevent common safeguarding failures.
The course is also designed to build confidence in managing discrepancies, understanding governance and SM&CR responsibilities, and knowing what to do in wind‑down or insolvency situations.
Through case studies, interactive exercises, and workshops, course attendees will develop an understanding and recognise the practical application of:
- Electronic Money Regulations 2011
- Payment Services Regulations 2017
- FCA E-Money guidance
- FCA “Dear CEO” letters and thematic reviews
- FCA Policy Statements on Safeguarding reform
- Payments and Electronic Money Instrument 2025
What will you learn
By the end of the course you will:
- Develop a clear understanding of the FCA’s safeguarding requirements
- Learn how to correctly apply safeguarding rules in practice
- Understand how to strengthen operational competence
- Improve awareness of common safeguarding failings
- Gain clarity about roles, responsibilities, and SM&CR accountability
- Develop confidence in identifying, escalating, and addressing safeguarding risks
- Enhance understanding of wind‑down planning and insolvency processes,
- Be able to promote a culture of compliance and customer protection
You may be also interested in:
- CASS Compliance
- Operational Resilience Preparedness
- Conduct Risk
- FCA Consumer Duty
- SMCR – Senior Managers Regime and Certification – In-company only
- Treating Customers Fairly and more
Register for any 2 courses at the same time and save extra £100 (in total, not per course).
We offer customised in-company training and consulting on the FCA compliance, as well as most major regulations across EU, US and APAC – contact us to discuss your requirements.
Main topics covered during this training
- Safeguarding rules and key expectations
- Safeguarding regulatory framework: EMRs, PSRs and the FCA approach
- Methods of Safeguarding: Segregation and Insurance/Guarantee
- Distinction between safeguarding, safeguarding funds and CASS
- SMCR responsibilities
- Reconciliations, Record‑Keeping & Operational Controls
- Safeguarding Failures
- Wind‑Down Planning & Insolvency Considerations
- Practical Safeguarding Scenarios and Problem-Solving
Who should attend
Personnel from banks, building societies, PRA-designated investment firms, insurers, recognised Investment Exchanges, FCA Enhanced scope Senior Managers and Certification Regime firms, entities authorised and registered under the Payment Services Regulations 2017 and Electronic Money Regulations 2011.
Key individual roles that will benefit from this course are:
- Chief Executive Officer (CEO)
- Chief Operating Officer (COO)
- Chief Financial Officer (CFO)
- Chief Risk Officer (CRO)
- Senior Managers
- Compliance Officers
- Operational Risk Managers
- IT Directors/Heads of IT
- Business Continuity Managers
- Internal Auditors
- Third-Party Risk Managers
- Regulatory Affairs Managers
Safeguarding in Financial Services
Safeguarding regulatory framework
Session Objective: To provide a clear understanding of the regulatory rules and FCA expectations governing safeguarding under the EMRs and PSRs.
- What is Safeguarding
-
- EMRs 2011 & PSRs 2017 safeguarding rules
- FCA Approach Document: key safeguarding expectations
- FCA’s safeguarding reviews and Dear CEO letters Case Study
- Recognise the distinction between:
-
- Safeguarding funds
- Own Funds
- Client Money (CASS) – why is safeguarding different
- Senior Management and Certification regime responsibilities
Break
Methods of Safeguarding: Segregation and Insurance/Guarantee
Session Objective: Explain the two permitted safeguarding methods and how firms must apply them to protect customer funds
- Segregation Method
-
- Timing requirements
- Identifying relevant funds
- Safeguarding accounts: naming conventions, access controls
- Reconciliation processes
- Treatment of fees, charges, and mixed funds
- Insurance/Guarantee Method
- When the Insurance/Guarantee Method can be used
- Requirements for the insurer/guarantor
- Practical Challenges
Lunch
Reconciliations, Record‑Keeping & Operational Controls
Session Objective: To provide participants with a practical understanding of how to apply the operational controls required to maintain accurate safeguarding and reconciliation processes.
- Daily internal and external reconciliations
- Handling discrepancies
- Documentation standards
- Access controls
- Audit trails
- Outsourced and third-party risks
Safeguarding Failures
Session Objective: To highlight common safeguarding failings and enforcement outcomes in order to reinforce the importance of strong controls.
- Common industry failings:
- Late safeguarding
- Incorrect identification of relevant funds
- Poor reconciliation processes
- Weak governance
- Commingling of funds
- FCA enforcement examples (anonymised)
Break
Wind‑Down Planning & Insolvency Considerations
Session Objective: Ensure participants understand how safeguarding operates during wind‑down and insolvency, and why robust planning is essential.
- The importance of wind-down planning in relation to Safeguarding regulation
- FCA expectations
- Return of safeguarding funds
- Operational resilience and continuity planning
- Stress testing safeguarding arrangements
Practical Safeguarding Scenarios and Problem-Solving
Session Objective: Enable participants to apply safeguarding rules to real‑world scenarios and make sound operational decisions.
- Practical group exercise to recognise issues and corrective actions of the following scenarios
-
- Late identification of relevant funds
- Incorrectly classified merchant funds
- Reconciliation discrepancy that cannot be resolved
- Outsourced provider failure
- The practical exercises will include:
-
- Identify the safeguarding risk
- Decide on corrective actions
- Determine escalation routes
- Document the decision‑making process
Q&A and Closing Remarks
Session Objective: Address any remaining questions and summarize key takeaways.
- Open floor for questions
- Summary of key takeaways
- Closing remarks and next steps
Trainer
A highly experienced regulatory consultant, Paul has previously worked as and continues to work as a compliance and risk director who has undertaken several Interim Head of Risk & Compliance roles across the financial services sector.
Roles undertaken have included FCA-approved head of Risk & Compliance and Money laundering office positions for a large insurance firm, fund and investment management organisations, Financial Technology and Consumer Credit firms. These positions held and experience gained has provided the course lead with a breadth of experience in Insurance, Investments, Consumer credit, Fund Management and Private Wealth Management.
Paul continues to lead companies through regulatory authorisation applications, regulatory change of control applications and variation of regulatory permissions, FCA S166 reviews as well as acting as FCA Liaison for firms where support has been needed.
He has undertaken senior Risk & Compliance interim consultant roles that have required strategic assessments and restructuring.
Currently advising a number of firms on risk and compliance aspects of Client Money, Client Asset and Safeguarding operations, related policies, procedures, systems and controls. While also registered with the FCA as the Head of Risk & Compliance and Money Laundering Officer for an investment management firm.
FAQ
We offer banking and finance courses as well as soft skills and business management training. You can either attend an open public course in London or Dubai or arrange customised in-house training to be delivered in any of your offices worldwide.
Most of our public courses are run over 2 full days. Some programmes are offered as a 1 or 3 day training.
In-house training is tailored to client’s requirements and can be organised over 1 day, 2-3 weeks or longer.
Public courses are organised mainly in London and Dubai. Occasionally we organise courses in other centres like Paris or New York. Check our public course calendar for the current list of programmes. We use a range of training venues, all in the centre of the cities and with excellent transport links to the airports and train stations.
In London we use venues in the centre (near Oxford Circus station or in Mayfair) or in the City (near Liverpool Street or Moorgate stations).
In Dubai our courses are organised in one of 4-5* hotels in the Deira district. Once you register we will send you detailed information together with accommodation options if required.
Our in-house courses can be delivered anywhere in the world. We work with over 25 trainers worldwide. Contact us do discuss your requirements. Check our list of available programmes.
Our courses are run in central locations from 9 a.m until 5-5.30 p.m. There are 2 coffee breaks and a lunch break. Lunch is always provided in the venue.
Dress code is smart casual.
All our programmes are taught by senior specialists who have spent many years in their respective sectors, working as senior managers and head of departments, so they understand very well the market and the challenges you are facing.
The experience of our trainers allows us to create very practical programmes, focused on current market trends and challenges. You can be sure that you will gain the knowledge which can be instantly applied in your workplace after the course. You will be analysing real life case studies, take part in group exercises and discussions as well as role plays, whenever applicable.
We want our courses to be as practical and interactive as possible so we limit the number of participants in order to optimise your time with the trainer and allow you to ask questions which are important for you.
In order to understand your requirements and expectations, we will send you a pre-course questionnaire.
You will also receive post-course support so if you have any questions after you left the training, you are welcome to contact us.
There are 2 easy ways to register:
- Go to the course of your choice and click Register Now button to fill the registration page
- Email us to enquiry@eurekafinancial.com
After you register, we will send you registration confirmation and an invoice so you can arrange the payment. Please note that your place is not confirmed until we receive it.
If you register within Early Bird discount period, there’s limited time to arrange the payment in order to be eligible for the discount. You will find all the details on the invoice.
We don’t advise to make any travel and hotel arrangements until you receive full course confirmation from us.
We will send you venue and course details as soon as possible but most likely about 3-4 weeks prior to the course commencement.
You can pay by:
- Making a bank transfer
- Debit/credit card
- Cheque payable to Eureka Financial Ltd. - only within UK
Just mark preferred paying option on the registration form. Whichever form of payment you choose we will always send you an invoice.
If you pay by card, a 2.2% processing fee will be added. We will send you authorisation form so you can give us your card details.
Included in the price of a public course are:
- Course tutorial
- Take away course materials
- Course Certificate
- Lunch on the days of the training as well as drinks and snacks throughout the course
The price doesn’t include accommodation, flights, transfers and any additional costs outside of the training venue.
Yes, we always offer Early Bird discount, so the sooner you register the more savings you can make. We also offer group discounts and if you register for 2 or more programmes at the same time.
If you are a full time student or unemployed, we offer a 25% discount of the full price of the training. Student ID or unemployment status confirmation is required to claim this discount.
If you attend one of our courses you will be entitled to a special discount for a year after the last course you attend with us. Also, if you have attended and recommended us to a friend, both you and your friend will receive a special discount. You will receive more information about it after you attend the course.
See our Customer Loyalty Discounts page for more details.
All our courses based in the UK are subject to the VAT charge of 20%. This fee is irrespective of the country of residence of the delegates.
You can, however, claim the VAT back by contacting UK tax office - HMRC, and filling the relevant form, as long as you comply with the following rules:
For Delegates coming from the EU countries
If you represent a registered business in another EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
- You're not registered for VAT in the UK and don't have to, or can't be, registered here
- You don't have a place of business or a residence in the UK
- You don't make any supplies in the UK
You can find some more information here. In order to claim the VAT you have to fill Form 65.
For the Delegates from Non EU countries
If you represent a registered business in a non-EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
- You're not registered for VAT in the UK and don't have to, or can't be, registered here
- You don't have a place of business or a residence in the EU
- You can only use the Refund Scheme if your own country operates a similar scheme and makes it available to UK businesses. If your country has its own Refund Scheme but doesn't let UK businesses use it, you can't claim under the UK Refund Scheme.
- You don't make any supplies in the UK
If the following rules apply to you, please fill the 65A form and send it to HMRC.
Webinars
You can cancel your participation up to a month before the course and receive a refund minus 10% of the full course value. Between 2-4 weeks before the course you will be charged 50% cancellation fee and if you cancel less than 2 weeks before the course you can only offer your place to a colleague. Up to 2 weeks before the course you can reregister for another edition for 10% reregistration fee if there is another webinar offered or you can rebook for a course in London by paying the difference in price plus 10% reregistration fee.
Classroom Courses
If there is any official travel restriction or difficulty related to the COVID pandemic around the time of the course we will convert the training into a webinar or offer to attend the next classroom edition at no extra cost.
If you are unable to attend the course, you can either send a replacement at no extra charge or, up to 10 days before the training, you can transfer your booking to another edition within the next 6 months paying administrative fee of 20% of the full course price. For any cancellation requests received between 11 days and 4 weeks from the course we offer 50% refund or reregistration to another edition for 25% of the value of the booking. For any cancellation requests received more than 4 weeks before the course date we will offer a refund less an administration fee of 10% of the full course price.
Cancellations must be made in writing (letter or email) and reach our office four weeks prior to the course date. We regret that only limited refunds can be given after this period as per points above. Non-attendance without any notification will be charged at full rate. Your place on a course is not guaranteed until we receive the payment. All payments must be made in full before the course date.
All our trainers have been working for many years in their respective sectors before they begun to teach so they bring a wealth of practical experience to the classroom.
Most of them used to work for 15 or more years in the financial sector and corporate world, and were holding positions of Directors, VP and Senior Managers. Some of them have published books and have written articles for specialised magazines and newspapers including FT, The Independent, The Times etc. You can find detailed biography of each trainer on the page of the course you want to register for.
Yes, you will receive a Certificate of Attendance at the end of the course you attend.
If you have to apply for a Visa to attend a course in the UK, we will issue a letter to support your application. The letter will be issued only after the payment for the course has been made.
It is delegate’s responsibility to obtain a Visa and failure to do so will not make the participant exempt from the cancellation policy.
Anyone suspected of applying for a training course simply to gain a Visa letter will be reported to their embassy.
We will need the following information to issue an invitation letter:
- Full name as it appears on your passport
- Date of birth
- Passport number
- Passport issue date
- Passport expiry date
