SIFA 10.8 Record Keeping
TC Sch 1 gives an overall view of the record-keeping requirements. A firm must make and retain records to demonstrate compliance with the rules (TC 2.8.1 R). The records kept should enable the firm to demonstrate the information in the table below.
Information about recruitment, training and competence that must be retained: |
•The criteria applied in assessing competence and how and when the competence decision was arrived at. |
•The time limits within which an appropriate examination has been passed. |
•The criteria used to decide that an employee is exempt from an appropriate examination. |
•The criteria applied in assessing continuing competence and how the employee continues to be competent. |
•The criteria used to decide the level of supervision and monitoring and how it carries out the supervision and monitoring of its employees. |