(1) A regulated firm shall establish, maintain and adhere to procedures to ensure that a person who is subject to the standards set out in Section 1.3(a) or Section 2.2 of the Minimum Competency Code complies with the applicable CPD requirements of that Code on an ongoing basis.
(2) A regulated firm shall ensure that the procedures referred to in paragraph (1) include, at a minimum, provision for the following:
(a) regular monitoring, which must be carried out at least once within the first 9 months of each year and once no later than 6 weeks after the end of each year, for the purposes of verifying -
(i) the number of hours of CPD completed and planned to be completed, and
(ii) the relevance of the content of CPD completed or planned to be completed;
(b) the action to be taken by the regulated firm in respect of suspected breaches of CPD requirements;
(c) the action the regulated firm will take to obtain information from professional educational bodies regarding its employees' complia
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