What is required for all FCA staff regarding competency?

The requirement for all FCA staff regarding competency is centered on the importance of maintaining a high standard of knowledge and skills throughout their employment. This emphasis on continuous competence ensures that employees are not only equipped to perform their roles effectively from the outset but also adapt to changes in regulations, market conditions, and the evolving needs of customers. By being competent throughout their employment, staff can provide better service, maintain compliance with regulatory requirements, and uphold the integrity of the financial services sector.

The other options do not adequately capture the core requirement for competence. While engaging in social activities or attending external training organizations may contribute to personal development or team cohesion, they do not specifically address the necessity for ongoing competency. Meeting performance targets, while important, is more focused on output rather than the essential qualifications and skills needed to fulfill the responsibilities of the role effectively.