Minimum Competency Code

Fitness requirement
1. CENTRAL BANK
  1. DUE DILIGENCE
    1. CONTRIOL FUNCTIONS
      1. Compliance Managers
      2. Personal Financial Adviser
      3. Managers/supervisor of CFs
      4. Complaint Managers
    2. ensure CF are compliant with Fitness & Probity code and Standars
      1. Fitness
        Evidence on compliance with Minimum Competency Code
        Through qualificatioin
        Grandfathering
        Evidence of Professional qualifications as applicable
        Evidence of CDP where maintenance of relevant qualification require completing Continuing Professional Development CDP
        Record of Interview and application
        References: The Central Bank expects expects firms to make all reasonable efforts to obtain refs from former employers and to maintain those records
        Records Of Previous Experience
        Details of any current responsability
        Competent
        Capable
      2. PROBITY
        SELF CERTIFY -CF
        COMPANY to seek written confirmation from proposed CF
        Garda check/convictiond
        Regulator Check
        Judgement Check
        honest
        ethical
        with integrety
        financial soundness
Applies to ALL individuals
1. working for Firms
2. Advise on and Sale Financial Product
3. Manager of Personal Financial Adviser
  1. Claim Managers
  2. Complaints Managers
    1. Fitness and Probity Standards
    2. NEED to meet
      1. UNLESS
        Hold 1 or more recognize Qualification relevant to the role
        QFA
        CPD Continuing Professional development requiriments
        ONGOING Compliance With
        Granfatherdperson in respect of function
        ONGOING Compliance With
        CPD Continuing Professional development requiriments
        NEW entrant
        participating in training
        supervised by a Fathered person or qualified person
        Prescribed SCRIPT function, complies with certain Minimum Standars
        acting on behalf of a firm, provide advice within narrow rigid criteria
        call centre Staff
4. Grandfathered person is COMPLIANT with Minimum Competency Code
  1. ONLY IF
    1. on 1 jan 2007 was acting as adviser
      1. 4 years in the role
        DURING
        01 Jan 1999 - 1 Jan2007
    2. ASSESSMENT taken and documented by the firm
      1. The Firm CERTIFIED compliance with EXPERIENCE requirement
      2. ONGOING Compliance With
        CPD Continuing Professional development requiriments
PERSONAL fiNINCIAL ADVISOR
1. CONSIDERED compliant IF
  1. NEW ENTRANTS
    1. Undergoes relevant training organised by the firm
    2. Obtained part of recognized qualification
    3. Act under immediate direction and supervision of a qualified nominated person, or s a grandfathered in respect of the activity
    4. is working towards obtaining relevant recognised qualification
    5. Obtained recognized qualification within 4 years of first starting to act as personal financial adviser
2. CONSIDERED compliant IF
3. NEW Personal Financial Adviser
  1. inform requirement to obtain qualification within 4 years
  2. Plan and monitor completion of qualifications required
  3. Firm must document why exam was not taken at first opportunity
  4. Must have procedures in place to ensure supervision
  5. The Firm MUST
  6. All client documents to be check /signed off by qualify person
  7. Accompaniment for an initial specified period by person who hold recognised qualification
    1. 1 Supervisor per 7 entrants
      1. Must comply with Minimum Competency Standars
        Compliance with CPD requirements
        Grand fathered
        complete 15 formal hours of CPD annually
        Must maintain written records
        Attending directly relevant
        Seminars
        Conferences
        Lectures
        e-learning tutorials
        Workshops or courses
        GRAND FATHERED PERSON
        RELATED to Minimum Competency Standards
  8. do not hold recognised qualoification

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	Criado por MARTHA MADRIZ quase 7 anos atrás