A new qualifying party must have at least two years of experience within the last how many years?

The requirement for a new qualifying party to have at least two years of experience within the last ten years aligns with many regulatory frameworks that aim to ensure individuals in responsible positions have adequate recent experience in their field. This timeframe allows for a broader range of potential candidates who may have accumulated experience over a longer duration, while still emphasizing the need for relevance and the currency of that experience.

Candidates with prior experience can draw on a more extensive history of work, ensuring they are familiar with industry standards, practices, and any recent developments that may influence their ability to perform effectively in the role. This emphasis on a ten-year window reflects a balanced approach to vetting potential new qualifying parties while still embracing those who have stayed engaged with the profession over time. Therefore, the choice of ten years is rooted in the desire to combine reliability in experience with the adaptability to contemporary practices.