The FCA requires that all firms employ personnel with the ‘skills, knowledge and expertise necessary for the discharge of the responsibilities allocated to them’ – the ‘Competent Employees Rule’ found in SYSC 5.
Firms therefore have a general responsibility to ensure that their staff are, and remain up to scratch. Extra obligations are placed on staff who hold controlled functions under the FCA regime, for example, CF30 – the Customer Function.
When CF30’s deal with retail clients they are also bound by the requirements contained in the Training & Competence Sourcebook.
This course will cover all the obligations relating to training and competence, including ideas on how to devise an effective T&C regime, and how to assess competence and ensure it is maintained.
It will also provide delegates with an up to date picture of the FCA’s position on T&C, post Turner.