Euroclear IOC Syllabus

The IOC is recommended by the Financial Services Skills Council. It is designed to provide settlement, administration and operations staff with an understanding of the industry, the regulatory environment and their specific area of work.

 

Unit 1 - Introduction to Securities and Investment

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Unit 2 - IOC UK Financial Regulation

(covers retail and wholesale)

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Unit 2 - Principles of Financial Regulation

(emphasis on wholesale)

Unit 3 - Technical Units

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Entry Requirements None None* None* None*
Study Time 30-35 hours plus course attendance 30-35 hours plus course attendance 30-35 hours plus course attendance 30-35 hours plus course attendance
Syllabus
  • The breadth of the financial industry
  • The regulatory framework
  • How the industry functions
  • The basics of the various financial instruments, including shares, bonds and derivatives
  • The regulatory environment in which the UK securities industry operates
  • The relevance of the Financial Services and Markets Act 2000
  • The European Union directives
  • The FSA's conduct of business rules and client asset rules
  • The complaints and redress procedures
  • The regulatory environment in which the UK securities industry operates
  • The relevance of the Financial Services Markets Act 2000 and associated legislation and regulations
  • The FSA's conduct of business rules and client asset rules more relevant to wholesale investment
 

 

*If you are completing the IOC for regulatory purposes, you will need to pass all three units within two years of starting. If you are, or will be, working in a captured role, you will be required to complete units 1, 2 and a technical unit.

About the technical units
The technical units reflect the specialist areas of financial services operations and administration in which you work. You can select the unit which best applies to your job role from the options below.

Asset servicing
This module provides an understanding of the fundamentals of asset servicing. It comprises topics including capital instruments and transactions, the lifecycle of an event, mandatory and voluntary events, initial public offerings, proxy voting, aspects of tax, operational risk and controls, and legal and compliance issues.

Exchange-traded derivatives administration
Subjects covered include the history and development of derivative markets, an introduction to futures and options, the use of derivatives, the role of a derivative exchange and the Clearing House, margining, clearing and settlement, derivatives regulation and compliance as well as operational risk and control.

Global securities operations
This module looks at securities, the main industry participants, settlement characteristics, other investor services and aspects of taxation and risk.

Collective investment schemes administration
Starting with an introduction, this module examines regulatory controls, constitution, roles and responsibilities, and investment and borrowing powers. It then goes on to cover investment transactions and communications, registration and settlement, distribution of income and taxation.

ISA administration
Including an ISA introduction, this unit examines regulation and authorisation, investors and applications, investment rules and restrictions, account income and tax claims, account holders' rights and protection and account managers' charges and expenses. It also looks at withdrawals, closure and death of an investor, transfers, returns of information and HMRC inspections.

Operational risk
The objective of this unit is to ensure that you have an introduction to operational risk as it relates to your role in operations or administration. The elements covered are the basics of risk, credit risk, market risk, the nature of operational risk, the causes, events and impact of operational risk, the operational risk cycle, the support and control functions, integrated risk management (IRM) and achieving common standards and protection.

IT in investment operations
This looks at how the role of IT relates to investment operations. It examines IT in the securities industry, IT and the functional flow of financial instruments, the role of IT in the front office, the role of IT in the pre-settlement, settlement and post-settlement phases, the impact of IT on financial control, IT management and delivery and the globalisation of IT services.

Risk in Financial Services
The Risk in Financial Services qualification introduces delegates to the major risks areas in global financial services. It provides a solid grounding in the principles of the risk management framework and corporate governance and risk oversight. It covers specific techniques used in identifying , reducing and managing operational risk, credit risk, market risk, investment risk and liquidity risk.

Client Money and Assets

The aim of this unit is to ensure that candidates are introduced to the concepts and processes required to understand the importance of client assets and how they must be adequately protected under the FCA's client assets (CASS) regime.

Derivative Operations

The aim of this unit is to ensure that candidates have a basic introduction to Exchange-Traded and Over-the-Counter Derivatives administration as far as it applies to the needs of operations and administration staff.

Platforms, Wealth Management and Service Providers

The aim of this unit is to ensure that candidates have an introduction to the services offered by Platforms, Wealth Managers and related Outsource Service Providers as far as this relates to operations and administration staff.