Why is it important to capture a Staff Member’s DOFAs and Credentials (i.e. Qualifications, Class of Business Training, Regulatory Examinations, etc.)? (MSS)

In order for a Compliance Officer to establish whether or not a Staff Member is compliant, non-compliant, or working under supervision, a full history of a Staff Member’s DOFAs and Credentials is required.

The F&P Manager works on the same principle. Without entering the correct data, the application is unable to provide an accurate report of the Staff Member’s Fit & Proper status.