SIFA 10.2 Commitments
The Commitments amplify Principle 3 in relation to Training and Competence. They apply to everyone within a firm associated with a regulated activity including senior management who may not fall within the scope of the TC 2 rules.
The firm's commitments to training and competence should be that:
- its employees are competent;
- its employees remain competent for the work they do;
- its employees are appropriately supervised;
- its employees' competence is regularly reviewed; and
- the level of competence is appropriate to the nature of the business.
'Employee' is a generic term that covers everyone who works in a firm.