Regulatory Alerts2021-10-21
Guidance Note on Training and Competency Schemes
The Guernsey Financial Services Commission issues this guidance to require licensees under the Protection of Investors and Insurance Managers laws to implement structured training and competency schemes for all employees. The document mandates specific assessment, supervision, and qualification timelines for Authorised Insurance Representatives and Financial Advisers, including mandatory Continuing Professional Development and Statements of Professional Standing. Licensees must ensure ongoing monitoring of employee competence and enforce de-authorisation procedures when regulatory or qualification standards are not met within prescribed deadlines.
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