Training and Competence
Training and Competence (T&C) forms an important part of UK regulations under the FCA. These rules apply, in particular, to employees in financial services who deal with or on behalf of customers.The T&C regime aligns with the Principles for Business which requires firms to take reasonable care to control their affairs. This includes arranging for employees engaged in a regulated activity to develop competence.
Our Training and Competence Course explains the FCA's rules for the training and competence of staff in the financial services sector.
- 30 Minutes
- All staff
- Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.
Learning objectives
- Recognise that all employees must be competent to carry out the responsibilities allocated to them
- Understand that employees dealing with, or on behalf of, customers must be assessed as competent
- Understand that employees must be supervised to ensure they maintain competence and apply appropriate knowledge, skill and expertise to their duties
- Be aware that a gap in financial sector employment could lead to an employee needing to be reassessed as competent
What can you expect your employees to learn?
Welcome
What is Training & Competence?
Purpose of T&C regime
Suitability
Competence
Guidance for our firm
- Exercise: Purpose of T&C regime
T&C process
Training
Working prior to attaining competence
Role-specific requirements
Restrictions on the performance of certain activities
Assessing competence
- Exercise: Attaining competence
Appropriate qualifications
- Exemptions from appropriate qualifications
- Further exemptions
Restarting a regulated activity
Restarting a regulated activity
Maintaining competence
- Frequency of assessment
- Requirements for retail investment advisors
- Exercise: Professional standards - CPD
- Professional standards - SPS
Supervising employees
Assessment & coaching skills
Monitoring employees assessed as competent
Data capture & reporting on complaints in respect of retail investment advisers
Record keeping
- Exercise: Competence and record keeping
Summary
Affirmation
Assessment
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Your questions, answered
Financial Crime
Common FAQs
How can I log and track incidents of financial crime in my organisation?
How can I ensure my employees understand and comply with our internal policies in relation to financial crime?
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Are Skillcast courses SCORM-compliant?
What other tools are needed beyond training?
Is our training content still compliant with the latest legislation?
- You can check the latest course content updates in our library updates page: https://www.skillcast.com/compliance-course-library-updates
- For major legislative changes, we:
- Will send you email alerts to ensure you are notified
- Offer you a free trial of newly created or updated content
- Host webinars with compliance experts to explain the changes and how our training supports your ongoing compliance
Can you translate our content into other languages?
How can I give employees a secure way to record suspicious activity so we can act quickly?
Our Suspicious Activity Register allows staff to log concerns or irregularities they observe, helping you detect potential issues early. The secure register can be reviewed by compliance teams, enabling prompt investigation and action.
What file types are supported by the Skillcast system?
Features |
Supported file types and details |
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File Exchange |
File types: PDF, Excel spreadsheets, Word documents, SCORM and xAPI files, and compressed zip files. Max file size: Default is 1GB, can be increased to a max of 2GB |
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SCORM files |
Versions: SCORM 1.2, SCORM 1.2 for Moodle, SCORM 2004 2nd, 3rd and 4th Edition. Max file size: 1024MB |
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xAPI file |
Max file size: 2GB |
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Videos |
File types: MP4 or MOV. Videos must be optimised, with a max file size of 100MB. If the file is bigger, our Design Team can help |
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Images |
File types: jpg, png and gif. The file size should ideally be 100KB, but it can be up to 250KB |
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CPD evidence |
File types: Word, PDF, Excel and CSV. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB |
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Policy documents |
PDF or Word File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB |
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Offline activities evidence |
File types: PDF, DOC, DOCX, XLS, XLSX, CSV, PNG, GIF, JPEG, JPG, PPTX and MSG. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB |
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Client logo files |
File types provided by client: EPS, PDF, AI and SVG |
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Registers |
PDF, DOC, DOCX, XLS, XLSX, CSV, PPT, PPTX, POT, PPA, PPS, JPG, JPEG, PJEPG, PNG, BMP, GIF, MP4, MOV, WMV, CPTX, CP, TXT, ZIP and MSG files |
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Declarations |
JPG, JPEG, PNG, GIF, XLS and XLSX files |
