Understanding that key roles in regulated entities are subject to the FCA’s Training and Competence (T&C) rules is well established practice. T&C has been an integral part of financial services for decades and a regulatory requirement since the 1990’s.

How firms implement and manage T&C varies from firm to firm. However, all T&C regimes have the same criteria; regular performance reviews, ‘on the job’ observations, programmes of continuing professional development (CPD) and robust record keeping supported by effective monitoring and transparency throughout the business. 

New regulatory requirements such as MIFID II and SM&CR have further strengthened the need for evidencing competence. So, far from being outdated and overtaken by newer directives, T&C is today more relevant than ever.

That’s where Worksmart’s deep experience and industry leading software for managing T&C comes in. Tracsmart has the unrivalled features and functionality to enable firms to define and implement T&C across individuals, teams, departments and entities. Tracsmart manages all activities and variations whilst creating the necessary “calls to action”. and providing a full reporting suite.

Using Tracsmart enables firms to achieve regulatory compliance whilst achieving business advantage through competency gains.