Does compliance take track records into account?
Q: We are a small broker and it seems the Financial Services Authority will require us to demonstrate the competence of our staff. Surely their track record is sufficient?
A: It would take more space than is available here to answer yourquestion comprehensively but let me give you two thoughts.
Firstly, if GPs qualified 20 years ago did not update their medical
knowledge, how happy would you be to go in for treatment?
Secondly, how comfortable would your clients be if they thought your staff
never updated their skills or knowledge of current market practice?
You need to spend some time with whoever you are working with on your
Financial Services Authority compliance
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