Entire Section

  • GEN 5.3.19A GEN 5.3.19A

    (1) An Authorised Firm must ensure that an Employee who falls within a category specified in (2) remains competent by completing a minimum of 15 hours of continuing professional development (CPD) in each calendar year.
    (2) The categories of Employees specified for the purposes of (1) are:
    (a) the Senior Executive Officer;
    (b) the Compliance Officer; and
    (c) the Money Laundering Reporting Officer.
    (3) An Authorised Firm must ensure that:
    (a) the CPD in (1) is relevant to the Employee’s:
    (i) current role and any anticipated change in that role; and
    (ii) professional skill and knowledge;
    (b) the CPD consists of structured activities; and
    (c) the Employee keeps adequate records of CPD activities to be able to demonstrate that the requirements in this Rule have been met.
    (4) In (3), “structured activities” means courses, seminars, lectures, conferences, workshops, web-based seminars or e-learning which require a commitment of thirty minutes or more.

    • GEN 5.3.19A Guidance

      (1) The requirement in Rule 5.3.19A does not derogate from the requirement in Rule 5.3.19 for an Authorised Firm to ensure that Employees generally are competent and capable of performing their functions. This requires the Authorised Firm to consider what training is undertaken or required for all Employees, including Employees not covered by this Rule.
      (2) The structured activities that are completed as CPD may consist of activities conducted internally or externally, and may include activities conducted by a professional body.