Get T&C in train
Q. We received a thematic review e-mail from the Financial Services Authority regarding our training and competence scheme. We have put a lot of effort into compliance, but all our staff are experienced and have been with us for ages. Consequently we have done little about training. Having replied to the FSA to that effect, I am now having sleepless nights
It is clear that you have spent time preparing and maintaining a compliant stance. However, in the area of training and compliance, you must be careful. It sounds as if you need to either revisit, or develop from scratch, your T&C plan, and you may need some specialist help to do this.
It is a dangerous assumption that, because staff have been with you for a while, they must be fully trained. Remember that the rules say staff must be competent for the work they undertake. You may feel that they
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