FSA simplifies training and competence rules

The change forms part of the FSA's move towards a more principles-based approach to regulation. The FSA's high-level Principles and Commitments in the Training and Competence sourcebook still require firms to ensure that their employees are competent, and remain competent, to carry out the roles assigned to them.

The consultation preceding these changes produced mixed views. Many institutions welcomed the increased flexibility that the FSA proposals will provide, but some expressed concerns

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