The CBB’s Licensing Conditions require a capital market licensee’s staff, taken together, must collectively provide a sufficient range of skills and experience to manage the affairs of the capital market licensee in a sound and prudent manner. This condition requires that capital market licensees must ensure their employees meet any training and competency requirements specified by the CBB. The approved persons requirements, specified in Module MAE, Module CSD, Module MIR and Module CRA, sets forth the ‘fit and proper’ requirements in relation to competence, experience and expertise required by approved persons; this Chapter specifies various factors that the CBB takes into account when reaching such decision regarding approval of such persons to act as approved persons by CBB.