There are two sections in the training and competence sourcebook within the Financial Conduct Authority (FCA) handbook. The first section (TC1) contains the commitments, which state that it is a firm’s responsibility to ensure that individuals

1. Are (and remain) competent for the work they do

2. Are appropriately supervised

3. Have their competence regularly reviewed

4. Have a level of competence appropriate for the nature of the business

The second section (TC2) contains detailed requirements that apply in addition to the commitments, including recruitment, training, attaining and maintaining competence, appropriate examinations, supervising and record keeping.

Principle 3 requires firms to take reasonable care to organise and control their affairs responsibly and effectively. This includes making proper arrangements for any employee or appointed representative associated with a regulated activity carried on by the firm to achieve, maintain and enhance competence.


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