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Training and competence: financial services

Updating authors: Bridget Barker and Paul Ellison
Consultant editors: Nick Thorpe and Neil Johnston

Summary

  • Individuals must have the necessary skills and training to perform their role and must be appropriately supervised until they are competent. (See The Training and competence sourcebook)
  • Training and competence requirements are ongoing and must be demonstrated as a continuing process. (See Training requirements and competence requirements)
  • There is a 48-month limit on the amount of time that an individual has to pass an “appropriate examination” where this is required. (See Appropriate qualifications)
  • Publish Status: Published Article ID: 70612 Last updated: 05 June 2017 11:38:36 First published on web: 22 October 2006 00:00:00 More Properties Body Tool Topics Jurisdiction (US Only) Content modules In lists Article info box Summary Information on training and competence for employers in the financial services sector, including the training and competence sourcebook, training requirements and appropriate qualifications. Show table of content Body
  • In certain circumstances, an employee may be exempt from the requirement to have passed each module of an appropriate examination. (See Appropriate qualifications)
  • The Financial Conduct Authority (FCA) requires firms to make and keep appropriate records to demonstrate compliance with the rules in the Training and competence sourcebook. (See Record-keeping)