FIT 2.2 Competence and capability

In determining a person's competence and capability, the FCA, in accordance with FIT 1.1.2G, will have regard to all relevant matters including but not limited to:

1. (1)

    whether the person satisfies the relevant FCA training and competence requirements in relation to the controlled function the person performs or is intended to perform;

2. (2)

    whether the person has demonstrated by experience and training that they are suitable, or will be suitable if approved, to perform the controlled function;

3. (3)

    whether the person has adequate time to perform the controlled function and meet the responsibilities associated with that function; and

4. (4) any of the matters in FIT 2.1.3G (Honesty, integrity and reputation) so far as relevant to competence and capability, such as a finding by a court, disciplinary hearing or enquiry that the person has been negligent or demonstrated lack of skill in a relevant respect.

In determining the competence and capability of staff being assessed under FIT, a firm, in accordance with FIT 1.1.2G, should have regard to all relevant matters including but not limited to:

1. (1)

    whether the person satisfies any applicable training and competence requirements (in relation to the function that the person performs or is intended to perform);

2. (2)

    whether the person has demonstrated by experience and training that they are suitable to perform the function they are intended to perform;

3. (3)

    whether the person has adequate time to perform the function in question and meet the responsibilities associated with that function; and

4. (4) the matters in FIT 2.2.1G(4).

A person may have been convicted of, or dismissed or suspended from employment for, drug or alcohol abuses or other abusive acts. This will be considered by the FCA only in relation to a person's continuing ability to perform the particular controlled function for which the person is or is to be employed.

The FCA would expect a firm determining the competence and capability of staff being assessed under FIT to consider convictions, dismissals and suspensions from employment for drug or alcohol abuses or other abusive acts only in relation to a person's continuing ability to perform the particular FCA designated senior management function or an FCA certification function for which the person is, or is to be, employed.