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In assessing whether an individual is a Fit and Proper Person and qualified for the role for which the individual is being considered, the following factors shall be considered—
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a. |
whether the individual possesses a degree in the field relevant to the role. For the avoidance of doubt, this does not prevent someone who does not possess a degree in the relevant field to be employed for the role if such individual has relevant professional or industry qualification[s] and/or experience; and |
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b. |
whether the individual has industry qualifications directly relevant to the activities to be performed by such individual in the role and it is demonstrable that such individual generally understands—
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i. |
the structure of the regulatory framework that applies to the job activities; |
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ii. |
the particular Regulations, Rules, Directives and Guidance that apply to the functions that the individual would perform; |
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iii. |
the fiduciary obligations owed to clients by the individual or the VASP; |
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iv. |
the VA Activities which the individual helps the VASP to undertake; and |
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v. |
the market in which the individual’s services are provided.
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