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    2005-10-20

SIFA 10.2 Commitments

SIFA 10.2.1G

The Commitments amplify Principle 3 in relation to Training and Competence. They apply to everyone within a firm associated with a regulated activity including senior management who may not fall within the scope of the TC 2 rules.

SIFA 10.2.2G

The firm's commitments to training and competence should be that:

  • its employees are competent;
  • its employees remain competent for the work they do;
  • its employees are appropriately supervised;
  • its employees' competence is regularly reviewed; and
  • the level of competence is appropriate to the nature of the business.

'Employee' is a generic term that covers everyone who works in a firm.