INDI 4.1.4 Qualifications that are appropriate or equivalent

(1) If Schedule 2 specifies a particular qualification as a knowledge competency, but allows an authorised firm to assess another qualification as being appropriate for an individual's role, the firm must hold appropriate evidence about the appropriateness of the other qualification.
(2) If Schedule 2 specifies a particular qualification as a knowledge competency, but allows an authorised firm to assess another qualification as being equivalent, or that the qualification is unnecessary, the firm must hold appropriate evidence, or must otherwise demonstrate, that the other qualification is equivalent, or that the qualification is unnecessary, as the case may be.
(3) In considering whether a qualification is equivalent to a qualification specified in Schedule 2, or is appropriate for an individual's role, an authorised firm may take into account qualifications that are recognised as appropriate for the role by another regulator.

Examples of other regulators

•   the Financial Conduct Authority (UK)
•   the Australian Securities and Investments Commission
•   the Financial Markets Authority (New Zealand)
•   the Financial Industry Regulatory Authority (USA)
•   the Securities and Futures Commission (Hong Kong)
•   the Monetary Authority of Singapore.
(4) The firm must record its assessment, and any supporting evidence, in the record about the individual required by rule 1.1.6 (Record-keeping).
Derived from QFCRA RM/2014-5 (as from 1st January 2015)