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  • Assessing Competency

    • TC-2.1.7

      Capital market licensees must not allow an individual to undertake or supervise a controlled function unless that individual has been assessed by the capital market licensee as competent in accordance with this Section.

      Added: January 2022

    • TC-2.1.8

      In determining an individual’s competency, capital market licensees may assess if the person is fit and proper in accordance with the requirements stipulated for authorisation of approved persons in MAE, CSD, MIR and CRA Modules.

      Added: January 2022

    • TC-2.1.9

      Capital market licensees must assess individuals as competent when they have demonstrated the ability to apply the knowledge and skills required to perform a specific controlled function.

      Added: January 2022

    • TC-2.1.10

      The assessment of competence shall depend on the nature and the level of complexity of the controlled function. Such assessment of competence of new personnel may take into account the fact that an individual has been previously assessed as competent in a similar controlled function.

      Added: January 2022

    • TC-2.1.11

      If a capital market licensee assesses an individual as competent in accordance with TC-2.1.9 to perform a specific controlled function, it does not necessarily mean that the individual is competent to undertake other controlled functions.

      Added: January 2022

    • TC-2.1.12

      A capital market licensee should use methods of assessment that are appropriate to the controlled function and to the individual’s role.

      Added: January 2022