Transcript Slide 1

A Regulatory Regime for Training and
Competence (T&C) for QFC Authorised Firms
Date: February 22, 2010
By: Shaun Swan, Associate Director, Financial Sector Development and
Policy
Qatar Financial Centre Regulatory Authority
The existing T&C regime for authorised firms
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T&C requirements contained in Individuals rulebook (INDI)
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competent and suitable
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competence assessed - skill, experience, background and qualifications
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maintenance of competence
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ongoing training and supervision
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record keeping
Qatar Financial Centre Regulatory Authority
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Key proposals
• To expand and strengthen the QFCRA’s T&C regime
• Professional qualifications and examinations in the
QFC
• Continuing professional development (CPD) and
training
Qatar Financial Centre Regulatory Authority
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Key proposals
Professional qualifications and examinations in the QFC
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initial voluntary moving to mandatory
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examination requirements for certain controlled functions
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QFC ‘technical’ Insurance and Securities examinations to be
introduced
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internationally recognised exam and training providers and
recognition of existing qualifications across jurisdictions
Qatar Financial Centre Regulatory Authority
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Key proposals
• Continuing professional development (CPD) and
training
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individuals performing Controlled Functions undertake continuing
professional development (“CPD”)
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Records of:
• the assessment - of individual’s training needs;
• the training activities undertaken to meet those needs; and
• an assessment of the relevance and effectiveness of the
training.
Qatar Financial Centre Regulatory Authority
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Key proposals
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Continuing professional development (CPD) and training
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CPD comprised of, a combination of:
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internal / external training;
industry literature review;
industry association events and involvement;
academic study and qualifications; and
attendance at courses.
Qatar Financial Business Academy (QFBA) and other training
providers to support CPD requirements
Qatar Financial Centre Regulatory Authority
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Next Steps
• Roll out of voluntary professional qualifications
• Public consultation on the T&C regime detailed proposals
• Implementation of revised QFC T&C regime for authorised firms
Qatar Financial Centre Regulatory Authority
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A Regulatory Regime for Training & Competence (T&C) for
QFC Authorised Firms
Thank you
Qatar Financial Centre Regulatory Authority