NEWS
NOVEMBER NEWS LETTER
FSSC urges FSA to reinforce the need for employee
competence
The Financial Services Skills Council (FSSC) in its response to the FSA
Handbook Consultation (CP05/10) has urged the FSA to reinforce the message
that the requirement for employee competence will still exist, and that
“Passing an appropriate examination is one aspect of Training and
Competence and will not provide the evidence of ability to carry out the
actual role itself”. (www.fssc.org.uk/cgi-bin/wms.p/News_and_events/74)
FSA Annual T & C Conference 2005: Why competence matters.
The FSA state:
“This conference will demonstrate the important role T & C
plays and why your firm needs to ensure that sufficient attention is paid
to this key aspect of regulation from authorisation onwards at all levels
within your firm.”
In the same document, John Tiner, Chief Executive, Financial Services Authority
states:
“It is central to our approach that every firm makes a commitment
to training and developing their staff and that this is achieved through
the firms senior management.”
Remember, sitting an “on-line”
test or a written examination is not in itself a demonstration of an employees
competence to carry out their work role!