GEN 5.3.19 Guidance

Past version: effective from 18/06/2006 - 30/06/2008
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1. When assessing the fitness and propriety of Employees, an Authorised Firm should be guided by the matters set out in AUT section A1.3 and should also monitor conflicts or potential conflicts of interest arising from all of the individual's links and activities.
2. In particular, when assessing the competence of Employees, an Authorised Firm should;
a. obtain details of the knowledge and skills of the individual in relation to the knowledge and skills required for the role;
b. take reasonable steps to verify the relevance, accuracy and authenticity of any information obtained; and
c. determine, in light of the individual's relevant qualifications, knowledge and experience, that the person is capable of fulfilling the duties of the role to be assigned to the person.
3. An Authorised Firm should also satisfy itself that an Employee:
a. continues to be competent in his proposed role;
b. has kept abreast of market, product, technology, legislative and regulatory developments that are relevant to the Employee's role; and
c. is able to apply his knowledge.
Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] [VER10/06-06]