The Isle of Man Financial Supervision Commission (FSC) has updated its licensing policy to include guidance from its recent training and competence framework.
The policy sets out the requirements those wanting a banking, investment business or fiduciary services licence must meet in order to operate within the Isle of Man jurisdiction. Launched in April, the Training and Competence document requires all licence holders to have a documented policy which sets out their commitment to employee training and competency. It also makes it the licence holders responsibility to make sure staff are competent to perform their role, and remain competent, in addition to them being appropriately supervised, with a regular review of their competency to make ...
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