(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These Regulations impose requirements on regulated firms to ensure that a person subject to the Minimum Competency Code, acting on their behalf, complies with the standards set out in that Code. This includes an obligation on regulated firms to establish and maintain a register of accredited persons, and requirements relating to the supervision of new entrants, the retention of relevant records and monitoring by regulated firms.