TC Sch 2 Notification requirements
2Handbook reference |
Matter to be notified |
Contents of notification |
Trigger event |
Time allowed |
Notifications - issues relating to the competency and behaviour of retail investment advisers. |
(1) Information about any circumstances relevant to the issue; and (2) information about any steps which a firm has taken or intends to take to rectify the position or prevent any future potential occurrence. |
Becoming aware, or having information which reasonably suggests that any of the following has occurred or may occur, and the event is significant: |
As soon as reasonably practicable. |
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(1) a retail investment adviser, who has been assessed as competent for the purposes of TC 2.1.1 R, is no longer considered competent for the purposes of TC 2.1.1 R; |
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(2) a retail investment adviser has failed to attain an appropriate qualification within the time limit prescribed by TC 2.2A.1 R (1); |
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(3) a retail investment adviser has failed to comply with a Statement of Principle in carrying out his controlled function or, in the case of a relevant authorised person, has failed to comply with COCON;3 and |
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(4) a retail investment adviser has performed an activity in TC Appendix 1 before having demonstrated the necessary competence for the purposes of TC 2.1.1 R and without appropriate supervision. |
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