INDI 5.3.1 Obligation to review competencies

(1) An authorised firm must, from time to time in accordance with its training and competency document, ensure that each individual who performs a controlled function or the customer-facing function:
(a) continues to have the competencies required to perform the function; and
(b) continues to be a fit and proper person to perform the function.
(2) The following rules apply to an authorised firm in deciding whether an individual continues to have the competencies, and continues to be a fit and proper person:
(a) to perform a controlled function:
•   rule 3.1.2 (How firms to make competence assessments)
•   rule 3.1.5 (How firms to make fitness assessments);
(b) to perform the customer-facing function:
•   rule 4.1.2 (How firms to make competence assessments)
•   rule 4.1.5 (How firms to make fitness assessments).
Derived from QFCRA RM/2014-5 (as from 1st January 2015)