Overview
The Professional Certificate and Professional Diploma in Compliance are offered jointly by the Association of Compliance Officers in Ireland (ACOI), the LIA, the Insurance Institute of Ireland and the Institute of Bankers in Ireland School of Professional Finance.
Candidates who successfully complete the first two modules are awarded the Professional Certificate in Compliance. A further two modules are required for the Professional Diploma in Compliance. The School of Professional Finance is a recognised school of University College Dublin (UCD), affiliated with the UCD College of Business and Law. Therefore, those who successfully complete the Professional Certificate in Compliance and the Professional Diploma in Compliance receive these academic awards from UCD.
The Professional Diploma is a NFQ Level 7 qualification, and is designed to be the benchmark qualification for Compliance Professionals in all sectors of the financial services industry. It is aimed at people who work (or who are aspiring to work) in a management or professional capacity within the Compliance function in financial services.
The Professional Certificate, also a Level 7 qualification in its own right, is for those who would like a core understanding of the Compliance function.
Further Information
Some common questions about the course are answered on this page. You can read all of the text provided, or click on the links below to be brought to the relevant information:
Why should I undertake this course?
If you are working in Compliance or wish to work in this field, this qualification is essential. It will improve your knowledge of Compliance including:
- The Theory and Practice of Regulation
- The Role and Management of the Compliance Function
- Fiduciary and Ethical issues
- The Legal and Regulatory Environment - national and international
- Compliance Practice and Corporate Governance
It will also enhance your skills, judgement and ability to deal with practical issues in the management and practice of Compliance in the Financial Services industry.
What are the modules?
There are four modules in the Diploma:
- PDC 1 - Compliance and the Regulatory Structure
- PDC 2 - Conduct of Business Rules
- PDC 3 - Legal & Regulatory Aspects of Compliance
- PDC 4 - Compliance Management
The Professional Certificate in Compliance is awarded on successful completion of PDC 1 and PDC 2. The Professional Diploma in Compliance, the benchmark qualification for Compliance Professionals, is awarded on successful completion of all four modules. Those who are awarded the Diploma level qualification and who participate fully in the LCOI CPD scheme may use the designatory letters LCOI after their names.
Each PDC subject passed gives 5 ECTS credits towards the (60 credit) University Diploma in Financial Services of the Institute of Bankers School of Professional Finance.
What is the Syllabus Summary
The study manuals cover the entire syllabus of each module. The following is a summary of the syllabus and is not a full statement of content:
PDC 1
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Regulation Theory and Practice
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Role and Management of Compliance Functions
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Ethics and Fiduciary Relationships
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Statutory Bodies & Regulators
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International Issues
PDC 2
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Regulatory framework for financial services providers
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Consumer protection regulation
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The Consumer Credit Act, 1995
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Anti Money Laundering Requirements/Terrorist Offences
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Data Protection
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Markets in Financial Instruments Directive
PDC 3
- Authorisation and Supervision
- Legal Environment
- Company Law
- Competition Law
- Contract Law
- Insider Dealing and Market Abuse
- Non Statutory Rules
PDC 4
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Compliance Practice and Promotion
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Audit
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Investigations
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Ethics and Integrity
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Corporate Governance
What are the learning supports?
When your registration has been processed, you will have access to the following learning supports for each module:
- Specifically written comprehensive and user-friendly study manual
- Access to the online Student Centre, including:
- Online study guide
- Individual lecture and examination schedule
- Lecture notes and handouts
- Sample exam paper
- Secure access to your examination results
- Lecturer contact through an email helpline
- Four lectures per module to be held in Dublin - subject to adequate student demand
- Exam venues provided in Athlone, Cork, Dublin, Dundalk, Galway, Letterkenny, Limerick, Newbridge and Waterford - subject to adequate student demand.
Your registration fee for each module covers all of the above supports and entry to the examination.
When do I register and when are the lectures and exams?
Professional Certificate in Compliance
The Professional Certificate in Compliance (previously known as the Foundation Certificate in Compliance) is awarded on successful completion of PDC 1 and PDC 2. The 2009/10 registrations for PDC 1 and PDC 2 will close on 11th of September 2009.
Where places are available, applications will continue to be accepted for Semester 1 modules until Friday 13th November 2009 (a late fee of €50 per module will apply from Friday 23rd October 2009).
The four lectures for PDC 1 will be held on weekday evenings between October and December 2009 with examinations as follows:
Initial Exam
23 January 2010
Resit Exam
29 May 2010
The lectures for PDC 2 will be held on weekday evenings between February and April 2010, with examinations as follows:
Initial Exam
22 May 2010
Resit Exam
11 September 2010
Professional Diploma in Compliance
In order to register for The Professional Diploma in Compliance, candidates must have sucessfully completed the Professional Certificate in Compliance (PDC 1 and 2). The Professional Diploma is awarded on successful completion of PDC 1, PDC 2, PDC 3 and PDC 4. 2009/10 registrations for PDC 3 and PDC 4 will close on 11th September 2009.
The lectures for PDC 3 will be held on weekday evenings between October and December 2009 with examinations as follows :
Initial Exam
9 January 2010
Resit Exam
22 May 2010
The lectures for PDC 4 will be held on weekday evenings between February and April 2010 with examinations as follows:
Initial Exam
8 May 2010
Resit Exam
4 September 2010
How do I register?
All applicants should click here for registration details. If you require any assistance with registration, please contact Institute of Banker on 01 6116500 or info@bankers.ie
Am I eligible to take the course?
The Professional Certificate in Compliance is open to both school-leavers and graduates. The minimum second level educational requirements are 5 passes in the Leaving Certificate, including English and Maths or 5 O-Level/GCSE passes, including English Language and Mathematics. Applicants over 21 may apply on mature grounds. In addition, you should be an ordinary or affiliate member of the ACOI. You can apply for membership or affiliate membership (for those who are not eligible for ordinary membership) at the same time as registering for the course.
Entry to the Professional Diploma in Compliance is limited to those who have successfully completed the Professional Certificate in Compliance.
What is the cost?
The fee is €680 per module for the Study Year 2009/10. For this you will be issued with a specially written comprehensive and user-friendly manual. Support lectures and examination fees are included. Manuals are issued to coincide with the start of the lectures in each module.
Are there exemptions for holders of other relevant qualifications?
This is a broad - ranging qualification and the Board of ACOI have decided not to grant exemptions for other qualifications or extensive and high level experience in the area.
Is this qualification accredited for Continuing Professional Development (CPD)?
Formal CPD hours for QFAs, CPD Members and Chartered Bankers are awarded on successful completion of this qualification. For further information, please visit www.bankers.ie/CPD
LCOI Designation:
Individuals who pass the Professional Diploma in Compliance are entitled to apply for the designation ‘Licentiate of the Compliance Officers in Ireland' and use of the designatory letters LCOI. Continued use of this designation is subject to meeting ACOI's Continuing Professional Development requirements. LCOI is the leading professional designation for compliance professionals in all sectors of the financial services industry in the Republic of Ireland.
Further Study
Each PDC subject gives 5 ECTS credits towards the (60 credit) University Diploma in Financial Services of the Institute of Bankers School of Professional Finance.
Downloads
A range of downloads related to further information and the application service can be found in the News and Events Section by clicking here.
For further details on registration for membership of the ACOI, or for any ACOI courses, please go to the membership section by clicking here.