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Are there training and competence requirements that firms must comply with in relation to retail deposit taking?

April 26, 2017Competence comply deposit firms relation requirements retail taking TRAINING

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Are there training and competence requirements that firms must comply with in relation to retail deposit taking?

1 Answer

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BCOBS does not impose any new training and competence requirements on firms. However, firms should note their existing requirement under SYSC 5.1.1R to ‘employ personnel with the skills, knowledge and expertise necessary for the discharge of the responsibilities allocated to them’.