Training and competence
Our training and competence regime supports consumers by making sure the financial services workforce is appropriately qualified and well regulated.
The regime includes a list of appropriate qualifications for firm activities and services. The content and level of these qualifications is prescribed through examination standards.
Individuals must have appropriate qualifications, be assessed as competent by their firm, maintain their competence through training and meet standards of behaviour. Sometimes these qualifications are granted by an accredited body – if investment and pension advisers obtain a specific level of annual Continuous Professional Development (CPD), they are granted an annual Statement of Professional Standing.
Firms need to meet competence requirements in three principal areas: assessing competence, maintaining competence and record keeping.
- See more at: https://www.the-fca.org.uk/training-and-competence#sthash.eO6ayOVT.dpuf