• INDI Part S1.3 INDI Part S1.3 Non-executive governance function competencies

    Note

    The level of an individual's competencies must be commensurate to the nature and complexity of his or her role in the firm and the regulated activity or activities that the firm conducts (see rule 3.1.3 (4)).

    Derived from QFCRA RM/2014-5 (as from 1st January 2015)

    • INDI Part S1.3 Guidance

      Competency assessments for an individual who performs the non-executive governance function are likely to be less frequent than for an individual with a role in the firm's day-to-day activities. For example, his or her competency might be assessed through participation and assessment in executive coaching, board retreats and planning days or board peer review, or through membership of other boards and governing bodies.

      Derived from QFCRA RM/2014-5 (as from 1st January 2015)

    • INDI Division S1.3.A Skills

      S1.3.1 Act as a member of the governing body of the firm, but without responsibility for the day-to-day direction of its affairs
      S1.3.2 Perform the role in a way that demonstrates independence within the governing body of the firm
      S1.3.3 Undertake in an effective manner the fiduciary responsibilities of a member of the governing body of the firm
      Derived from QFCRA RM/2014-5 (as from 1st January 2015)

    • INDI Division S1.3.B Knowledge

      S1.3.21 Level of knowledge appropriate for the role (which may be demonstrated by having appropriate qualifications)
      S1.3.22 Good knowledge of the principles of sound and effective corporate governance
      Derived from QFCRA RM/2014-5 (as from 1st January 2015)

    • INDI Division S1.3.C Experience and other elements

      S1.3.31 Appropriate level of experience and seniority for the role
      Derived from QFCRA RM/2014-5 (as from 1st January 2015)