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)