Transitional Provisions and Schedules | Prudential Regulation Authority Handbook & Rulebook

Part

TC Training and Competence

Chapter

Transitional Provisions and Schedules

Printed on: 13/12/2024

Rulebook at: 31/03/2005

Transitional Provisions and Schedules

TC Sch 1

Record keeping requirements

01/12/2004

TC Sch 1.1

handbook-guidance

The aim of the guidance in the following table is to give the reader a quick over-all view of the relevant record keeping requirements.

31/10/2004

TC Sch 1.2

handbook-guidance

It is not a complete statement of those requirements and should not be relied on as if it were.

31/10/2004

TC Sch 1.3

handbook-guidance

In the table, "PTS" means pension transfer specialist.

31/10/2004

TC Sch 1.4

handbook-guidance

Table: Record keeping requirements

Handbook reference

Subject of record

Contents of record

When record must be made

Retention period

TC 2.4.9 G

Attaining Competence

Data on competence

On a continuing basis

For 3 years only after an employee ceases to engage in or oversee an activity or for PTS indefinite

TC 2.5.1 R

Appropriate examinations

Examination time limits

When employee begins in the activity

For 3 years only after an employee ceases to engage in or oversee an activity or for PTS indefinite

TC 2.5.2 G

Appropriate examinations

Examination passes and dates and other relevant data such as periods of absence

Duration of time limits for that activity

For 3 years only after an employee ceases to engage in or oversee an activity or for PTS indefinite

TC 2.5.6G (1)

Appropriate examinations - regulatory module only

Criteria for application of TC 2.5.5 R to the employee

At the time of the application of the rule

For 3 years only after an employee ceases to engage in or oversee an activity or for PTS indefinite

TC 2.5.6G (2)

Appropriate examinations

Criteria for application of TC 2.5.5A R to the employee

At the time of the application of the rule

For 3 years only after an employee ceases to engage in or oversee an activity or for PTS indefinite

TC 2.6.4 G

Maintaining Competence

Criteria for and application of assessment

On a continuing basis after competence

For 3 years only after an employee ceases to engage in or oversee an activity or for PTS indefinite

TC 2.7.6 G

Supervising and monitoring

Criteria in deciding level of supervision and how it is carried out

When the employee begins in the activity and on an ongoing basis

For 3 years only after an employee ceases to engage in or oversee an activity or for PTS indefinite

TC 2.8.1 R (1)

Compliance with sourcebook

Data on competence, relevant to compliance with the sourcebook

When the employee begins in the activity and on a continuing basis

For 3 years only after an employee ceases to engage in or oversee an activity or for PTS indefinite

31/10/2004

TC Sch 2

Notification requirements

01/12/2004

TC Sch 2.1

handbook-guidance

There are no notification or reporting requirements in TC.

01/12/2004

TC Sch 3

Fees and other required payments

01/12/2004

TC Sch 3.1

handbook-guidance

There are no requirements for fees or other payments in TC.

01/12/2004

TC Sch 4

Powers exercised

01/12/2004

TC Sch 4.1

handbook-guidance

The following powers and related provisions in or under the Act have been exercised by the FSA to make the rules in TC:

Section 138 (General rule-making power)

Section 150(2) (Actions for damages)

Section 156 (General supplementary powers)

01/12/2004

TC Sch 4.2

handbook-guidance

The following powers in the Act have been exercised by the FSA to give the guidance in TC:

Section 157(1) (Guidance)

01/12/2004

TC Sch 5

Rights of action for damages

01/12/2004

TC Sch 5.1

handbook-guidance

The table below sets out the rules in TC contravention of which by an authorised person may be actionable under section 150 of the Act (Actions for damages) by a person who suffers loss as a result of the contravention.

01/12/2004

TC Sch 5.2

handbook-guidance

If a "Yes" appears in the column headed "For private person?", the rule may be actionable by a "private person" under section 150 (or, in certain circumstances, his fiduciary or representative). A "Yes" in the column headed "Removed" indicates that the FSA has removed the right of action under section 150(2) of the Act. If so, a reference to the rule in which it is removed is also given.

01/12/2004

TC Sch 5.3

handbook-guidance

The column headed "For other person?" indicates whether the rule is actionable by a person other than a private person (or his fiduciary or representative). If so, an indication of the type of person by whom the rule is actionable is given.

01/12/2004

TC Sch 5.4

handbook-guidance

Table: Actions for damages: Training and Competence sourcebook

Right of action under section 150

Chapter/Appendix

Section/Annex

Paragraph

For private person

Removed

For other person

Rules in TC 2

No

Yes TC 2.1.5 R

No

01/12/2004

TC Sch 6

Rules that can be waived

01/12/2004

TC Sch 6.1

handbook-guidance

The rules in TC can be waived by the FSA under section 148 of the Act (Modification or waiver of rules).

01/12/2004