Compliance - How much supervision?
All of my staff are experienced and competent people, but I have been told to monitor them. In some cases they know more than I do in their respective areas, so how should I do this?
The risk-based nature of the regulations means that firms have to decide for themselves what measures are appropriate. The best way to approach this is to take the lead of the Financial Services Authority and examine what outcomes or results the rules aim at. The Competent Employees Rule (SYSC 3.1.6) indicates that your staff members must have the skills, knowledge and expertise necessary to discharge their responsibilities.
The desired outcome could be that they handle the business correctly
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