Advisers need to apply early for FSA approval

Advisers should ensure they apply early if they want to be recognised as autho- rised principals under Financial Services Authority (FSA) regulation in 2005. Speaking at the COVER Protection Forum, Nick Kirwan, head of protection and product development at Scottish Prov- ident warned advisers that getting in early is imperative if they want to ensure they can continue to work under the new legislation. Kirwan estimated that approximately 32,000 firms will apply for authorisation under the FSA and hinted that the sheer number of applicants could lead to a backlog in the process. In...