Shaun Swan

							  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
 •    T&C requirements contained in Individuals rulebook (INDI)


 •    competent and suitable


 •    competence assessed - skill, experience, background and qualifications


 •    maintenance of competence


 •    ongoing training and supervision


 •    record keeping


Qatar Financial Centre Regulatory Authority                                2
 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                       3
 Key proposals
 Professional qualifications and examinations in the QFC

 •    initial voluntary moving to mandatory

 •    examination requirements for certain controlled functions

 •    QFC ‘technical’ Insurance and Securities examinations to be
      introduced

 •    internationally recognised exam and training providers and
      recognition of existing qualifications across jurisdictions




Qatar Financial Centre Regulatory Authority                         4
 Key proposals
 • Continuing professional development (CPD) and
   training

 •    individuals performing Controlled Functions undertake continuing
      professional development (“CPD”)

 •    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                              5
 Key proposals
 •    Continuing professional development (CPD) and training

 •    CPD comprised of, a combination of:

            •    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                        6
 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                    7
 A Regulatory Regime for Training & Competence (T&C) for
 QFC Authorised Firms




                Thank you




Qatar Financial Centre Regulatory Authority