INDI 1.1.1 Introduction

(1) These rules are the Individuals (Assessment, Training and Competency) Rules 2014 (or INDI).
(2) These rules set out:
(a) the principles of conduct for individuals who perform controlled functions or the customer-facing function for authorised firms; and
(b) the principles and framework under which:
(i) authorised firms assess the competence, and the fitness and propriety, of individuals who perform controlled functions or the customer-facing function;
(ii) the Regulatory Authority approves individuals to perform controlled functions; and
(iii) authorised firms establish training and competency programmes for individuals who perform controlled functions or the customer-facing function.
Note There are 10 controlled functions, which are described in CTRL, Division 1.2.B. The controlled functions are:
•   the non-executive governance function
•   the executive governance function
•   the senior executive function
•   the finance function
•   the senior management function
•   the MLRO function
•   the risk management function
•   the compliance oversight function
•   the internal audit function
•   the the actuarial function.
Derived from QFCRA RM/2014-5 (as from 1st January 2015)
Amended by QFCRA RM/2021-1 (as from 1st July 2021)