Competence gained
Q. Having applied for authorisation and received my minded-to-authorise letter, with only five months left until regulation, I am nervous about the need to prove that all in my firm are competent
Every broker that is authorised should visit the Financial Services Authority website and read TC1 and TC2 from the FSA Handbook. They are very clear and easy to understand and outline the rules for training and competence. One of the key requirements of FSA is that each person is competent to do the job that they do.
Modern concepts of competence involve having the knowledge, understanding and ability to ensure all staff are doing all jobs to a reasonable standard.
Using the task of building a
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