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Training and Competence Compliance Training - 5mins AI

Training and Competence Compliance Training

Comprehensive FCA training on T&C Regime requirements including competence assessments, CPD obligations, supervision, and record-keeping standards

Why Training and Competence Training Is Critical for Financial Services

The Training and Competence regime is part of the FCA Handbook's TC sourcebook, ensuring employees performing regulated activities have the knowledge, skills, and behaviours needed to perform duties effectively and ethically. Operating alongside SM&CR which focuses on individual accountability and conduct, T&C protects consumers and ensures firms operate efficiently within regulatory expectations, making competence a legal requirement for staff giving advice, handling financial products, or dealing with customers.

Competence differs from suitability: suitability refers to being fit and proper including honesty, integrity, and reliability, while competence means having the technical knowledge and performance capability to carry out specific functions to expected standards. Firms must assess both initially and conduct regular reviews to ensure ongoing competence is maintained, supported by comprehensive Continuing Professional Development requirements and detailed record-keeping of all T&C activities for regulatory inspection.

Why This Training Is Essential for Your Organisation

Firms must build T&C programmes aligned to their size, structure, and risks with clear competency standards, training and supervision plans, monitoring processes, and documented procedures. The FCA expects a structured approach including initial assessment, supervised practice periods, and formal competence validation before independent practice, with role-specific qualification requirements for investment advisers, mortgage advisers, and insurance distributors outlined in TC Appendix 1.

Maintaining competence requires ongoing performance reviews, supervisory feedback, CPD including 35 hours annually for financial advisers and 15 hours for mortgage advisers and insurance distributors, plus Statement of Professional Standing renewal for retail investment advisers. Firms must track supervision, monitor complaints linked to employees, maintain detailed records retained for five years following role end, and conduct annual reviews of their T&C framework to ensure effectiveness and proportionality to current business models and regulatory requirements.

🎯 Learning Outcomes

Understand T&C Regime Fundamentals

Define the T&C regime within the FCA Handbook and TC sourcebook, understand its relationship with SM&CR, recognize consumer protection and operational efficiency objectives, and distinguish between suitability and competence.

Implement T&C Programmes

Build T&C programmes aligned to firm size and risk, apply FCA's structured approach expectations, implement supervision requirements for employees working toward competence, and track role-specific qualification requirements from TC Appendix 1.

Assess and Attain Competence

Apply competence assessment methods including observation, file reviews, performance metrics, and knowledge tests, ensure consistent demonstration over time, meet qualification requirements within 30-month timeframes, and process returning professionals after career breaks.

Maintain Competence and Standards

Conduct ongoing performance reviews and address knowledge gaps, meet CPD requirements of 35 hours for advisers and 15 hours for mortgage/insurance roles, renew Statement of Professional Standing annually, and adapt to regulatory changes through regular reviews.

Apply Supervision Best Practices

Implement supervision requirements with competent trained supervisors, provide timely feedback and coaching, review employee activity based on risk, implement safeguards for supervised employees, and document all supervision activities.

Monitor and Report Effectively

Track complaints linked to specific employees, identify patterns in customer dissatisfaction, monitor missed training or certification deadlines, collect proactive metrics indicating competence issues, and analyze sales quality and customer outcomes.

Maintain Comprehensive Records

Retain detailed T&C records including training logs, assessment outcomes, supervision reports, and CPD tracking for minimum five years, ensure records support internal reviews and FCA requests, and provide senior management with regular oversight information.

Conduct Annual Framework Reviews

Review T&C frameworks annually to ensure effectiveness, assess proportionality to current business model and regulatory requirements, identify significant changes affecting competence, and implement improvements based on findings.

📋 Course Modules

Introduction to Training and Competence

Understand T&C as part of the FCA Handbook and TC sourcebook, its relationship with SM&CR, and dual objectives of consumer protection and operational efficiency. Learn to distinguish suitability from competence and understand CPD requirements and record-keeping obligations.

How Firms Implement the T&C Regime

Build T&C programmes with clear competency standards, training plans, and monitoring processes aligned to firm size and risk. Implement FCA's structured approach with supervision requirements, role-specific qualifications from TC Appendix 1, activity restrictions, and procedures for performance concerns.

Assessing and Attaining Competence

Apply assessment methods including observation, file reviews, performance metrics, error trends, knowledge tests, and role-play scenarios. Ensure consistent demonstration over time, meet qualification requirements within 30 months, understand exemptions, and process returning professionals after two-year breaks.

Maintaining Competence and Professional Standards

Conduct ongoing performance reviews, provide supervisory feedback, address knowledge gaps, and implement CPD requirements: 35 hours annually for financial advisers with structured/unstructured split, and 15 hours for mortgage advisers and insurance distributors. Renew Statement of Professional Standing yearly for retail investment advisers.

Supervision, Reporting and Record-Keeping

Implement supervision with competent trained supervisors providing timely feedback, track complaints linked to employees and patterns in dissatisfaction, monitor missed deadlines and sales quality metrics, retain detailed T&C records for five years, and conduct annual framework reviews with senior management oversight.

👥 Role-Based Best Practices for Training and Competence Compliance

Senior Managers and T&C Oversight

Build T&C programmes aligned to firm size, structure, and risk with clear competency standards
Ensure structured approach with initial assessment, supervised practice, and formal validation before independent work
Receive regular management information on T&C activities to ensure effective oversight
Conduct annual reviews of T&C framework to ensure effectiveness and proportionality to business model

Supervisors and Assessors

Be competent and trained to supervise, providing timely feedback and coaching to supervised staff
Review employee activity based on risk and seniority, documenting all supervision activities and outcomes
Assess competence using observation, file reviews, performance metrics, and knowledge tests with consistent demonstration over time
Implement safeguards for supervised employees including work review before customer execution when appropriate

All Regulated Employees

Obtain FCA-recognised qualifications within 30-month timeframes for roles outlined in TC Appendix 1
Complete CPD requirements: 35 hours annually for financial advisers, 15 hours for mortgage/insurance roles
Renew Statement of Professional Standing annually through FCA-accredited body for retail investment advice
Participate in ongoing performance reviews, accept supervisory feedback, and address identified knowledge gaps

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Co-Founder

"Employees actually engage with compliance training voluntarily rather than dreading it."

Ed Lascelles

Partner

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Training and Competence Compliance Training - FAQ

Frequently Asked Questions

What is the difference between suitability and competence under the T&C regime?

Suitability refers to someone being fit and proper, including demonstrating honesty, integrity, and reliability. Competence means having the technical knowledge and performance capability to carry out a specific function to the expected standard. Firms must assess both qualities initially and conduct regular reviews to ensure ongoing competence is maintained. While suitability focuses on character and ethical conduct, competence focuses on the skills, knowledge, and consistent performance required for the role.

What are the qualification and CPD requirements for different regulated roles?

Investment advisers must achieve FCA-recognised qualifications within 30 months as outlined in TC Appendix 1 and complete 35 hours of CPD annually with a split between structured and unstructured learning. Mortgage advisers must hold specific qualifications from TC Appendix 1.1 and complete a minimum of 15 hours of professional development annually. Insurance distributors must meet minimum knowledge requirements under the Insurance Distribution Directive (IDD) and also complete 15 hours of CPD annually. Retail investment advisers must additionally renew their Statement of Professional Standing yearly through an FCA-accredited body.

How should firms assess and maintain competence over time?

Competence is assessed using a range of evidence including observation of daily tasks, file reviews and customer feedback, monitoring of performance metrics, error trends or breach reports, knowledge tests and technical assessments, and role-play scenarios and simulations. Competence must be demonstrated consistently over time, not just during one task or project. The person making the assessment must also be competent and authorised to do so, with independent assessors preferred where possible. Firms should balance technical knowledge with soft skills such as communication, empathy, and ethical decision-making, particularly for customer-facing roles.

What are the record-keeping and supervision requirements under the T&C regime?

Firms must maintain comprehensive records of all T&C activities for at least five years following the end of an employee's regulated role, including training and qualification logs, assessment outcomes, supervision reports, CPD tracking, and evidence of remedial action taken when competence issues are identified. Every employee performing regulated activities must be supervised by someone competent and trained to supervise, who provides timely feedback and coaching, reviews employee activity based on risk and seniority, and documents all supervision activities and outcomes. The supervision plan must clearly document who supervises whom and how assessments are conducted, with intensity proportionate to experience level and risk. Firms must also track and review complaints linked to specific employees, patterns in customer dissatisfaction, missed training deadlines, and sales quality metrics.

Training and Competence Compliance Training

Meet FCA Training and Competence requirements with streamlined bite-sized learning.

With 5Mins.ai, T&C Regime compliance becomes snack-sized videos employees watch.

Fully automated tracking eliminates manual follow-ups.
Live dashboards prove compliance in a single click.
Super-short 3–5-minute lessons keep learning efficient.

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