Fitness and propriety investigations: practical considerations
Kingsley Napley have also warned that SM&CR — which requires companies to certify key staff as “fit and proper” each year — can be used by employers to fast-track staff dismissals.
“F&P certification gives employers a stick with which to beat underperforming employees,” said Nick Ralph, a partner in the firm’s employment team.
“Historically, competence or underperformance has been dealt with via an HR-related performance management plan . . . However, the F&P aspects of regulated firms’ new responsibilities now offer them a way to short-circuit that and get shot of people in one swoop — by treating issues as the competence aspects of F&P.”
This article was first published in Financial Times on 1 January 2021. You can read the article in full by clicking here (subscription required).
Nick has co- authored blogs providing background on the issues highlighted within the Financial Times article., visit the below blogs to read more on related topics:
Nick is a highly experienced employment lawyer with an exceptionally strong reputation in the City of London and beyond.
Nick acts for executives, partners and employers across a variety of sectors including: professional services, “C-suite”, hedge funds, legal, retail, trading, insurance, technology, private equity, IT, accountancy, regulatory and banking.
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