Subject Title - INSETA

Part of the management and oversight functions of a key individual is toensure that there are adequate processes in place to achieve this. In biggerFSPs there may be a Human Resource Division which takes care ofrecruitment and employment, and in smaller FSPs, the key individual mayhave to fulfil the functions himself. Once a representative is appointed in aspecific category, the representative register must be updated accordingly.The following processes and procedures may be considered to ensure thatadequate recruitment and appointment procedures are in place (to verify fitand proper requirements) when appointing representatives:Fit and properrequirementHonesty andintegrityPROCESS Check data bureaux. Check details of applicant against available datasupplied by regulatory and professional bodies(such as FSB debarred list). Check validity of membership of professionalbodies or other institutions. Check the FSB website to see if therepresentative has been debarred. Check any other source which may be used bythe FSP (such as criminal checks).Experience Obtain and verify details of previous experience.QualificationsRegulatoryexaminations Obtain and verify details of appropriatequalifications submitted by applicant. Check completion of REs as submitted byapplicant.CPD Obtain and verify details of completed CPD.SummaryChapter 3 introduced you to the fit and proper requirements forrepresentatives. There is similarity between the requirements for keyindividuals and representatives.One of the critical elements to remember as a key individual is that yourduties include ensuring that the representatives under your managementmeet the fit and proper requirements.76 © INSETA - Section 1 12a