HI, I've been doing some research with regards to the FCA and employment of people within the financial sector ====================
We have a fit and proper test which is a benchmark weuse to assess whether an individual is suitable to perform a controlled function. Examples of controlled functions include being a director of a regulated firm, overseeing the firms systems and controls and being responsible for compliance with our rules. When considering an individual's fitness and propriety we look at honesty including openness with self-disclosures, integrity, reputation and competence and capability and financial soundness. But we don't have any specific rules around the firms we regulate employing individuals with convictions. ==================== I've looked at the FCA policy and the following is states ( FIT 2.1 Honesty, integrity and reputation)G A relevant authorised person determining the honesty, integrity and reputation of staff being assessed under FIT, should consider all relevant matters, including those set out inFIT 2.1.3G, which may have arisen either in the United Kingdom or elsewhere. Firmsshould inform themselves of relevant matters, including checking for convictions for criminal offences (where possible) and contacting previous employers who have employed that candidate or person. If any staff being assessed under FIT has a conviction for a criminal offence, the firm should consider the seriousness of and circumstances surrounding the offence, the explanation offered by that person, the relevance of the offence to the proposed role, the passage of time since the offence was committed and evidence of the individual’s rehabilitation. |