Proper persons
The red flare proper persons platform allows an organisation to demonstrate compliance with the Central Bank of Ireland Fitness and Probity scheme, the UK Financial Conduct Authority Senior Managers and Certification Regimes, the Charity Regulatory Authority charity trustee guidance, and the UK HMRC fit and proper tests for charity trustees, and other specified persons qualification and certification regimes.
Proper person regimes require organisations ensure that persons performing specified tasks have the necessary competencies, experience and judgement to perform their duties to the standard expected by the regulator. The organisation is required to map their business functions to a regulator specified set of duties, and for each person performing those duties the organisation must hold documentary evidence that the nominated person has the skills, attitude and ethical outlook required.
An effective proper persons regime deals with the initial allocation of responsibilities to a person and the continuous monitoring that they maintain their skills within the defined set.