TC TP 1 Designated Investment Business: Assessments of competence before commencement
TC TP 1.1 3
71.1 |
R |
(1) |
This rule applies in respect of an employee of a firm employed at commencement who had, before commencement, been assessed as competent by a firm in accordance with the applicable rules of its previous regulator. |
(2) |
An employee described in (1) is exempt from the requirements in this sourcebook to pass an appropriate examination if the activity (or role of a supervisor) carried on by that employee after commencement is the same or substantially the same as that for which the employee had been assessed as competent before commencement. |
TC TP 1.2 3
1.2 |
R |
If an employee of a firm is exempted from an examination requirement under TC TP 1.1R and any other firm subsequently employs the individual, that exemption continues to apply in respect of that subsequent employment on the same basis provided that: |
|
(1) |
the activity which the employee carries on (or the role of the supervisor) continues to be the same, or substantially the same, as that in respect of which the employee had previously enjoyed the benefit of the exemption; and |
||
(2) |
the individual had not experienced any significant break in employment since the last employment in respect of which the individual had the benefit of an exemption under TC TP 1. |
||