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COBS Dealing & Managing training

Six microlessons on the FCA's COBS 11 dealing and managing rules: best execution, execution policies, client order handling, aggregation and allocation, research payments and personal account dealing, with situational tests and a certificate of completion.

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COBS: Dealing & Managing (UK) course preview
6Short, TikTok-style microlessonsIn the browser or the iOS and Android apps

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  • 2Assessments
  • 6Microlessons
  • IncludedCertificate of completion
About this course

What the COBS Dealing & Managing course covers

This course covers the FCA's key rules on dealing and managing under COBS in six microlessons. It explains the best execution obligation and how to write and review an execution policy, the client order handling rules, when orders can be aggregated and how to allocate them fairly, research payments and inducements, and personal account dealing controls. It is built for UK investment professionals who need to understand their responsibilities and protect client interests.

Learning outcomes

What your people will be able to do

  • Apply COBS 11.2A best execution principles in trading decisions
  • Design, document and review execution policies, including venues and factor weightings
  • Handle client orders promptly, in sequence and with the right disclosures
  • Apply aggregation and allocation controls, including pre-determined pro rata allocation
  • Use compliant research payment models and meet inducement and disclosure rules
  • Enforce personal account dealing controls with preclearance and monitoring
Course contents

6 microlessons

Each microlesson is a short, TikTok-style video lesson, with knowledge checks along the way.

1Best Execution Fundamentals
2Execution Policy and Procedures
3Client Order Handling Rules
4Order Aggregation and Allocation
5Research Payments and Inducements
6Personal Account Dealing Controls

  1. Best Execution Fundamentals: The best execution obligation and execution factors.
  2. Execution Policy and Procedures: What an execution policy must cover and how to review it.
  3. Client Order Handling Rules: Prompt, fair and sequential handling of client orders.
  4. Order Aggregation and Allocation: When orders can be bunched and how to allocate them.
  5. Research Payments and Inducements: Research unbundling, payment models and inducements.
  6. Personal Account Dealing Controls: Preclearance, restrictions and monitoring of staff trades.
A 5Mins certificate of completion for COBS: Dealing & Managing (UK), lying on a desk next to a laptop
Certificate

A certificate for every learner who completes it

Learners finish every microlesson and complete the assessments. 5Mins then issues a certificate of completion for COBS: Dealing & Managing (UK).

  • Certificates and e-signatures stored against each learner
  • Audit-ready records, ready whenever an auditor asks
  • Completion shows on the Compliance Dashboard in real time
Audience and regulation

Who it's for and the law it covers

Who it's for

  • Traders, dealers and portfolio managers
  • Investment operations and middle office teams
  • Research and front office staff
  • Compliance and trading oversight teams

Laws covered

  • FCA Conduct of Business sourcebook, COBS 11 (dealing and managing). Covers best execution (COBS 11.2A), client order handling, aggregation and allocation (COBS 11.3) and personal account dealing (COBS 11.7).
  • COBS 2.3A and 2.3B. The inducement and research rules, including the payment models firms can use for research.
  • UK Market Abuse Regulation. Shapes the personal account dealing controls covered in the last microlesson.
How it runs in 5Mins

Assign it once, then let 5Mins do the chasing

Every course in the 5Mins library runs on the same zero-admin engine.

  • EnrollAuto-enroll

    Enroll people automatically from your HR system, with 100+ HRIS platforms supported.

  • RemindReminders

    Nudges by email, Slack, Microsoft Teams and push until the course is done.

  • RepeatRecurrence

    Set the course to repeat, for example every 12 months, and 5Mins re-enrolls people for you.

  • CertifyCertificates

    Certificates and e-signatures are issued and stored for every completion.

  • ProveAudit-ready records

    See who is complete, at risk or overdue on the Compliance Dashboard, and prove it any time.

Customer stories

Compliance teams that swapped chasing for results

Compliance, HR and L&D leaders on what changed when they moved their training to 5Mins. Pick a team to see what changed.

ComplianceCompliance Training Insurance, 205 colleagues 100%

compliance completion and pass rate since go-live

  • ~1 day saved on each compliance course (HR estimate)
  • Automated reminders and reporting

Since go-live, our compliance completion and pass rates are 100%, and it's the quickest we've ever got there. Automated reminders and reporting save us about a day per course.

Laura ChappellLaura ChappellHR Director, Collingwood
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ComplianceCompliance Training Insurance and emergency accommodation 87%

less session time, from 2.5-3 hour sessions to modules of 25 minutes at most

  • 12 monthly sessions a year, up from 3-4
  • 95% content creation time saved

Our compliance sessions used to be two and a half to three hours in a room, and we could fit in three or four a year. Now we cover one topic a month, and I can see exactly what people are retaining.

Lucy WybornLucy WybornDirector of Learning and Development, ICAB
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ComplianceCompliance Training Legal services 80%

completion on mandatory training, up from 20%

  • Mobile microlessons finished between calls
  • Manager view of each team's progress

We were sitting at 20% completion on our mandatory training. We're now at 80%. People finish short lessons between calls, on mobile, and managers can see where their teams are, so chasing completion is no longer a one-person job.

Jamie WaltonJamie WaltonGroup Learning and Development Officer, Winn Solicitors
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ComplianceCompliance Training Fintech and digital banking On demand

training log showing who did what, when, and the pass rate

  • Any device phone or laptop, at their own pace
  • Rolling refreshers through the year

When I engage with the FCA, I can show that every team has had training tailored to their role, that it's up to date, and that it runs throughout the year, with a full log of who's done what.

Abdul GofurAbdul GofurHead of Compliance & Anti-Financial Crime, nsave
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★ Free sample lesson

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Free course catalogues

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Free PDF catalogues to share with your compliance lead, your managers or your board.

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Global Financial Compliance Catalogue

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UK Compliance Catalogue

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Your questions answered

Questions about COBS Dealing & Managing training

How long is the COBS Dealing & Managing course?

It's made up of 6 microlessons, each under 5 minutes. Learners can finish it in one sitting or spread it over a few days, and 5Mins sends reminders until it is done.

Is there a certificate?

Yes. Learners get a certificate of completion once they finish every microlesson and the situational tests. The record is stored in 5Mins for audits.

What is best execution?

The obligation to take all sufficient steps to get the best possible result for clients when executing orders, considering factors such as price, costs, speed and likelihood of execution. The first two microlessons cover it.

Does the course cover personal account dealing?

Yes. The last microlesson covers the scope of personal account dealing rules, restricted activities, preclearance, disclosure and monitoring.

Who should take this course?

Anyone who executes, manages or allocates client orders, works with research or trades personally while working at an investment firm, plus the compliance teams that oversee them.

Can I try the course first?

Yes. Request a free sample lesson and book a short demo with our team. After your demo, we'll share sample lessons with you so you can see the format for yourself.

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