TC-2.2.1

A capital market licensee must annually determine the training needs of individuals undertaking controlled functions. It must develop a training plan to address these needs and ensure that training is planned, appropriately structured and evaluated.

TC-2.2.2

The assessment and training plan described in Paragraph TC-2.2.1 should be aimed at ensuring that the relevant approved person maintains competence in the controlled function. An individual can develop skills and gain experience in a variety of ways. These could include on-the-job learning, individual study, and other methods. In almost every situation, and for most individuals, it is likely that competence will be developed most effectively by a mixture of training methods.

TC-2.2.3

The training plan of capital market licensees must include a programme for continuous professional development training (“CPD”) for their controlled function.

TC-2.2.4

Approved persons may choose to fulfil their CPD requirements by attending courses, workshops, conferences and seminars at local or foreign training institutions.

TC-2.2.5

The annual training required under Paragraph TC-2.2.1 must also include the quarterly updates, if any, to the CBB Volume 6 (Capital Markets) Rulebook, in areas relevant to each controlled function.

TC-2.2.6

Capital market licensees should maintain appropriate training records for each individual. Licensees should note how the relevant training relates to and supports the individual’s role. Training records may be reviewed during supervisory visits to assess the capital market licensee’s systems and to review how the licensee ensures that its staff are competent and remain competent for their roles.

Maintaining Competence