INDI 6.1.4 Individuals conditionally approved for customer-facing function
(1) Subject to subrules (2), (3) and (4), a conditionally approved individual may continue to perform the customer-facing function for the authorised firm concerned.
(2) The firm:
(a) must continue to supervise the individual appropriately (within the meaning given by INDI 2005); and
(b) must assess the individual in accordance with Part 4.1 (Assessment of individuals for customer-facing function).
Note The firm may designate the individual to perform non-discretionary customer-facing activities if he or she has the competencies, is fit and proper, and satisfies any other requirement under these or any other Rules, to do so. See rule 4.1.6.
(3) The firm must carry out the assessment before the end of the 12 month period for the individual referred to in INDI 2005, rule 4A.4.2.
(4) If the result of the assessment is that the individual does not have the competencies, is not fit and proper, or does not satisfy any other requirement under these or any other Rules, to perform the customer-facing function, the individual must cease to perform that function on or before the end of the 12 month period referred to in subrule (3).
(5) The firm must not enter details of the individual in the register that it maintains under rule 4.1.7 until the individual has been assessed as having the competencies, being fit and proper, and satisfying any other requirement under these or any other Rules, to perform the customer-facing function.
|Amended by QFCRA RM/2019-4 (as from 1st January 2020).|