FIT 2.2 Competence and capability

In determining a person's competence and capability, the FCA, in accordance with FIT 1.1.2G,7 will have regard to all relevant 3matters including but not limited to:

1. (1)

   whether the person satisfies the relevant FCA9 training and competence requirements1 in relation to the controlled function the person performs or is intended to perform;

   19
2. (2)

   whether the person has demonstrated by experience and training that they are 6suitable2, or will be suitable 2if approved, to perform the controlled function;4

   622
3. (3)

   whether the person has adequate time to perform the controlled function and meet the responsibilities associated with that function.4

In determining a person's competence and capability to perform an FCA designated senior management function or an FCA certification function, an SMCR firm, in accordance with FIT 1.1.2G,7 should have regard to all relevant matters including but not limited to:6

1. (1)

   whether the person satisfies any applicable training and competence requirements (in relation to the function that the person performs or is intended to perform);6

2. (2)

   whether the person has demonstrated by experience and training that they are suitable to perform the function they are intended to perform;6

3. (3)

   whether the person has adequate time to perform the function in question and meet the responsibilities associated with that function.6

A person may have been convicted of, or dismissed or suspended from employment for, drug or alcohol abuses or other abusive acts. This will be considered by the FCA 6only in relation to a person's continuing ability to perform the particular controlled function for which the person is or is to be employed.5

6The FCA would expect an SMCR firm7 determining the competence and capability of staff being assessed under FIT to consider convictions, dismissals and suspensions from employment for drug or alcohol abuses or other abusive acts only in relation to a person's continuing ability to perform the particular FCA designated senior management function or an FCA certification function7 for which the person is, or is to be, employed.