Application and Purpose | Prudential Regulation Authority Handbook & Rulebook
Prudential Regulation Authority Rulebook

Prudential Regulation Authority Rulebook

Part

TC Training and Competence

Chapter

Application and Purpose

Printed on: 21/06/2025

Rulebook at: 29/06/2012


TC 1

Application and Purpose

TC 1.1

Who, what and where?

  • 01/01/2011

Who and what?

TC 1.1.1

See Notes

handbook-rule
This sourcebook applies to a firm where its employee carries on an activity in TC App 1 for retail clients, customers or consumers (subject to the limitations set out in TC App 3).
  • 01/11/2007

Where?

TC 1.1.2

See Notes

handbook-rule
The territorial scope of this sourcebook is set out in TC App 2.
  • 01/11/2007

Purpose

TC 1.1.3

See Notes

handbook-guidance
The competent employees rule is the main Handbook requirement relating to the competence of employees. The purpose of this sourcebook is to support the FSA's supervisory function by supplementing the competent employees rule for retail activities.
  • 01/11/2007

Meaning of competence

TC 1.1.4

See Notes

handbook-guidance
In this sourcebook, competence means having the skills, knowledge and expertise needed to discharge the responsibilities of an employee's role. This includes achieving a good standard of ethical behaviour.
  • 01/11/2007

TC 1.2

Actions for damages

  • 01/01/2011

TC 1.2.1

See Notes

handbook-rule
A contravention of the rules in TC does not give rise to a right of action by a private person under section 150 of the Act (and each of those rules is specified under section 150(2) of the Act as a provision giving rise to no such right of action).
  • 01/11/2007